The United Arab Emirates’ energy minis- ter, Mohammed al-Hamli, is set next month to join the board of Japan’s Cosmo Oil. Al-Hamli is one of two top officials from Abu Dhabi government-owned Internation- al Petroleum Investment Co. (Ipic) due to join the board of Cosmo, in which Ipic bought a 20.76% stake for almost $780 mil- lion in October 2007 (IOD Sep.19’07,p1). Al-Hamli is deputy chairman of Abu Dhabi’s state investment vehicle, while the other new Cosmo appointee, Nasser al-Sowaidi, is on the Ipic board. They will replace two ex- isting board members, one of whom is also from Ipic. The appointments are to be ap- proved at Cosmo’s annual shareholders’ meeting on Jun. 23.
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