IPIC & Cepsa Launch 50-50 Products Marketing JV In Morocco.IPIC IPIC Intellectual Property Institute of CanadaIPIC Indianapolis Private Industry Council IPIC International Petroleum Investment Co (Abu Dhabi) IPIC Inventory Price Index Computation IPIC Information Processing Interagency Conference and Cepsa of Spain are forming a 50-50 venture to market Cepsa's refined oil products, lubricants and chemicals in Morocco as from 1999. The JV will have a distribution network in Rabat Rabat (räbät`), city (1994 pop. 787,745), capital of Morocco, on the Atlantic Ocean at the mouth of the Bou Regreg estuary, opposite Salé. , Casablanca and other parts of Morocco, and will invest 10 billion pesetas (about $71m) by 2005. 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 ADNOC Abu Dhabi National Oil Company . 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 ethane (ĕth`ān), CH3CH3, gaseous hydrocarbon. It is a continuous-chain alkane. As a constituent of natural gas, it is used for fuel. It can be prepared by cracking and fractional distillation of petroleum. cracker to produce ethylene, two 225,000 t/y polyethylene plants and a 520,000 t/y ethylene dichloride di·chlo·ride n. A chemical compound containing two chlorine atoms bound to another element or radical. Also called bichloride. Noun 1. unit (see survey of Abu Dhabi in Vol. 48). |
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