HASS
Petroleum said yesterday selling of 40 per cent stake to Oman Trading
International (OTI) would involve neither change management team nor staff
layout.
The company said in a press release
that the transaction entails sell of minority stake to the Oman based firm
which is state enterprise.
“There will be no change in
management, staff or operations. The Hass management team will continue to run
the company,” the statement said adding “neither will there be any effect on
our staffing levels.
OTI is an established trading
company headquartered in Dubai but owned from the Sultanate of Oman.
The company is owned 70 per cent by
Oman Oil Company (OOC) and 30 per cent the State General Reserve Fund (SGRF) of
Oman, both Government owned entities. OTI moves about 20 million tons of
petroleum energy products annually.
It has offices in Middle East,
Europe, Asia and the US.
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