Sector News

Abu Dhabi looking at strategic options for Cepsa

March 19, 2018
Chemical Value Chain

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

comments closed

Related News

December 3, 2022

Corteva to acquire Stoller Group for $1.2 billion

Chemical Value Chain

Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.

December 3, 2022

OMV introduces new corporate structure to drive sustainable growth and innovation

Chemical Value Chain

OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.

December 3, 2022

What does the current downturn in industrial manufacturing mean for executives searching for a senior role in the chemicals industry?

Chemical Value Chain

The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.