Mubadala Investment Co. (Abu Dhabi), owner of Compania Espanola de Petroleos (Cepsa; Madrid), an energy and chemicals producer, is considering a public listing or sale of a stake in Cepsa, a spokesman for Mubadala has confirmed.
“Mubadala Investment Company can confirm it is working in collaboration with the management of Cepsa to assess a range of strategic options to diversify Cepsa’s shareholder base. Options under consideration will include a potential listing, strategic partnerships and the involvement of other investors. Cepsa has demonstrated excellent performance from its integrated operations,” Mubadala tells CW, adding that Cepsa represents a successful ongoing investment for Mubadala. “We believe it would prove an attractive investment in the market,” Mubadala says.
Cepsa’s revenue in 2017 rose 16% to €20.8 billion ($25.6 billion). The company processed 154.7 million bbl of oil and produced 21.4 million tons of oil derivatives. Cepsa’s chemical operations are grouped into three main business lines: linear alkyl benzene (LAB), in which Cepsa is the world leader; phenol/acetone; and solvents. In 2017, Cepsa launched a new business line following the start-up of a plant at Dumai, Indonesia, for the production of alcohol and fatty acids from natural sources, which are used to manufacture personal care products and household cleaning goods.
The company has also developed a project to expand its plant in Brazil, strengthening its position in LAB, and it has signed an agreement with the Abu Dhabi National Oil Co. to study the construction of a new LAB plant at Ruwais, Abu Dhabi.
In 2011, Mubadala’s predecessor, the International Petroleum Investment Co., acquired Total’s 48.83% interest in Cepsa for €3.7 billion, making it a wholly owned subsidiary.
By Natasha Alperowicz
Source: Chemical Week
The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.
The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.
WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.
