Australia’s BHP Billiton this month completed the divestment of its 28.85% ‘effective stake’ in Algeria’s ROD according to the company’s latest quarterly results. The move ends BHP’s presence in Algeria before the firm’s oil and gas assets are merged with compatriot Woodside Petroleum, targeted for 1 June.
No other details of the transaction were revealed, though it would be no surprise if the buyer turned out to be Italian firm Eni which holds the remaining 71.15% effective stake. (CONTINUED - 169 WORDS)