IPIC & Cepsa Launch 50-50 Products Marketing JV In Morocco.
IPIC owns a 12% of Cepsa, a major oil refiner, petrochemical producer and retailer in Spain, which has a special crude oil supply deal with ADNOC. Cepsa also produces oil and gas, with E&P ventures in Algeria and other countries.
IPIC acquired the 12% stake in 1988. IPIC owns 19.6% of OeMV of Austria. IPIC and OeMV each own 25% of Borealis, a major Scandinavian petrochemicals producer which has a 40% equity in Abu Dhabi's first olefins venture that is now under construction in Ruwais. The olefins complex will have a 600,000 t/y ethane cracker to produce ethylene, two 225,000 t/y polyethylene plants and a 520,000 t/y ethylene dichloride unit (see survey of Abu Dhabi in Vol. 48).
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|Publication:||APS Review Downstream Trends|
|Date:||Nov 9, 1998|
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