INDUSTRY BRIEFS

PHILIPPINES will sell part of its 27.5% interest in Oriental Petroleum & Minerals Corp. (OPMC) via public offering to raise cash for the country's strapped treasury and prevent either of two feuding stockholders in the company from taking majority control of the firm. OPMC is Philippines's biggest oil exploration company. Plans are to place 12.25 billion government shares of OPMC, valued at $27 million, on the stock market.

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