Abu Dhabi Merger to Build Oil Producer Dwarfing OPEC’s Libya - Bloomberg

Abu Dhabi Merger to Build Oil Producer Dwarfing OPEC’s Libya - Bloomberg:

"Abu Dhabi’s proposed merger of two of its largest sovereign investment funds would create a global energy business that produces more oil than OPEC member Libya and with more assets than ConocoPhillips. 
The Persian Gulf emirate with about 6 percent of the world’s crude reserves will combine  Mubadala Development Co. and International Petroleum Investment Co. to cut costs and boost efficiency, the state news agency WAM reported Wednesday. The deal would pool assets of about $135 billion, many of them non-energy-related, and debt of about $42 billion, according to Bloomberg calculations. ConocoPhillips, by comparison, had $97 billion in total assets as of Dec. 31, 2015."



'via Blog this'