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SUDAN: Austrian oil company pulls out
The Austrian government-controlled OMV oil company, operating in Sudan's controversial oil fields, sold its interests this week to India's oil and natural gas company, ONGC Videsh. OMV Company spokesman, Thomas Huemer, told IRIN the company's oil exploration in Sudan was a financial engagement, and that it had decided to put its money elsewhere. "It's a normal thing to do," he said. The company had decided to pull out - in a deal worth US $115 million - for "strategic and economic" reasons, he said. This is the third western company to sell up in Sudan, following numerous reports documenting human rights abuses around the oil fields, and campaigns by human rights groups who say the country's oil industry - worth at least US $ 1 billion a year - has exacerbated the 20 year conflict, by providing the revenue which pays for it. Canadian company Talisman sold its interests in March to the same Indian company and Swedish Lundin sold some of its shares in June to Malaysia's Petronas.Posted by: Fred Pruitt 2003-09-07 |
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