Bloomberg News

Svenska Petroleum Doesn’t Plan to Sell Stake, Eqtisadiah Says

March 27, 2012

There is no plan to sell a stake in Svenska Petroleum Exploration AB, owner Mohammed Hussein Al- Amoudi told the Saudi newspaper al-Eqtisadiah.

Svenska is expanding its activities and has received many offers and requests from investors to participate; none of these has been accepted or even studied seriously, al-Amoudi told the newspaper.

On March 25, the Financial Times cited Chief Executive Officer Fredrik Ohrn as saying the company was up for sale and might fetch $2 billion.

To contact the reporter on this story: Wael Mahdi in Khobar, Saudi Arabia at wmahdi@bloomberg.net.

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net.


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