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Oil facilities in Yemen change hands in $21.6 million deal


Associated Press

CAIRO (AP) — A global energy company has acquired oil producing facilities in war-torn Yemen from another international firm. The move comes as the country’s Houthi rebels have repeatedly targeted terminals and tankers in efforts to stop their rivals from exporting oil. Zenith Netherlands, a subsidiary of Zenith Energy Ltd., announced Tuesday that it has agreed to acquire energy assets of Vienna-based OMV in Yemen, in a deal worth more than $21.6 million. The deal is still pending the approval of authorities in Yemen and Austria. There was no immediate comment from Yemen’s internationally recognized government. The largest of OMV’s assets was its shares in the al-Uqlah oil field in central Yemen.

Article Topic Follows: AP National Business

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Associated Press


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