Energy giant British Petroleum (BP) recently acquired shares of the French Total Fina Company in a gas excavation privilege off Egypt’s Mediterranean coasts, according to Al-Hayat daily. The value of this agreement has yet to be disclosed.
The purchased shares account for half of all shares in the privilege. The deal, which required Egyptian government approval, makes BP the sole proprietor of shares in this privilege, since it already owned half of its shares as of May 1999. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
