Company News - Pakistan begins privatization of OGDCL; issues IPO

12/01/2003
Pakistan soon plans to invite expressions of interest for the sale of 51% of its state-owned exploration and production company, Oil & Gas Development Co. Ltd. (OGDCL), to a strategic buyer or buyers.In other recent company news:MarkWest Hydrocarbon Inc., Denver, has agreed to sell its wholly owned subsidiary, MarkWest Resources Canada Corp., to Advantage Energy Income Fund, a Calgary-based royalty trust, for $102.5 million (Can.).Vintage Petroleum Inc., Tulsa, plans to acquire producing oil and natural gas properties in the Uinta basin of Utah from various subsidiaries of El Paso Corp., Houston, for $52.5 million.OGDCL privatizationPakistan's sale of its interest in OGDCL will follo...
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