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IPIC, Conoco in Hyundai talks
- United Arab Emirates: Saturday, August 12 - 2006 at 11:52
Abu Dhabi's oil investment fund IPIC is involved in discussions to sell part of its share in South Korean refiner Hyundai Oilbank Corporation to US oil firm ConocoPhillips, reported Gulf News, citing South Korea's Yonhap news agency. IPIC owns 70% of the firm which is South Korea's fourth biggest refiner. Hyundai officials told the news agency that IPIC was planning the sale in order to finance expansion at the refinery.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, August 12 - 2006 at 11:52 UAE local time (GMT+4)
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