Printer Friendly

IPIC & Cepsa Launch 50-50 Products Marketing JV In Morocco.

IPIC 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, 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. 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).
COPYRIGHT 1998 Input Solutions
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:APS Review Downstream Trends
Date:Nov 9, 1998
Previous Article:Saudi Aramco Is To Raise Its South Korean Stake To 63.4%.
Next Article:Saudi-Owned Corral Petroleum To Control Morocco's Refining & Retail Sector.

Related Articles
Abu Dhabi - The Supreme Petroleum Council and ADNOC.
Abu Dhabi - Investment In Spain.
Abu Dhabi - IPIC-Cepsa JV In Morocco.
ABU DHABI - Investment In Spain.
ABU DHABI - IPIC-Cepsa JV In Morocco.
ALGERIA - Oilfield Profiles - Cepsa - Rhourde El Krouf.
ABU DHABI - Investment In Spain.
ABU DHABI - IPIC-Cepsa JV In Morocco.
ABU DHABI - Investments In France.
ABU DHABI - Investment In Spain.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters