Oil Producers See the World and Buy It Up

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Flush with petrodollars, oil-producing countries have embarked on a global shopping spree. With a bold outlay of $7.5 billion, the Abu Dhabi Investment Authority is about to become one of the largest shareholders in Citigroup.In late Oct, Dubai bought part of Och-Ziff Capital Management, a hedge fund in New York. Abu Dhabi this month invested in Advanced Advanced Micro Devices, and in Sept bought into the Carlyle Group.

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At www.nytimes.com

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