Saudi- Al-Amoudi denies selling European investment 

(MENAFN - Arab News) Well-known Saudi businessman and investor Mohammed Hussein Al-Amoudi has denied the news published in some sections of the media recently about offering Swedish Oil explorer Svenska for sale.

"Such information is totally baseless," he said.

Al-Amoudi confirmed that the name of the company, which has appeared in some media, is in progress to carry out many new investment expansions in the field of oil exploration, but not oil refineries as mentioned in the reports.

"There is a total difference between oil exploration and oil drilling, and petroleum refineries," Al-Amoudi added.

"On the basis of the company's huge expansion, we have received many inquiries to participate in newly developed investment schemes or requests for buying shares. The company did neither. It did not accept any of those inquiries nor did it consider them seriously," Al-Amoudi said expressing his surprise over the way some media deal with such kinds of important news items without confirming their sources or checking their accuracy.

At the same time, he praised the efforts of major sections of the media that try hard to contact him personally in a bid to seek a confirmation of the information they have.

He also pointed out that he would not only preserve all rights to counter or respond to such actions of harming his business or personal reputation by publishing unreliable news about one of his firms, but also counter any attempts to undermine any of his future investments or business projects.