Austria’s OMV CEO on Adnoc Deal, Profitability, Oil Demand

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Jan.27 — Austria’s OMV CEO says Adnoc deal adds stability to the business. Rainer Seele told Bloomberg that the deal will boost refining capacity by 40%. Together with Italy’s Eni SpA, OMV AG agreed to pay about $5.8 billion for a combined 35 percent stake in the Abu Dhabi state oil company’s refining unit.

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