IPIC’s acquisition of the remaining 48.83% stake in Cepsa gives it a major footprint in phenol and acetone in Europe. It will also acquire an interest in Cepsa’s Canada operations, also listed below. We will try to find out more about what this means for Cepsa’s operations. Cepsa operates the following manufacturing plants in chemicals […]
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Abu Dhabi’s IPIC has agreed to purchase Total’s 48.83% stake in Spain’s Cepsa, giving IPIC a 100% stake in the company. This consolidates IPIC’s breakthrough into European refining and petrochemicals and is a significant move for the company. Cepsa is big in petrochemicals. More to follow.
Petrochemical projects all over the Middle East depend on availability of ethane. In particular, any further developments long term at Ras Laffan in Qatar and at Borouge 3 in Abu Dhabi are dependent on further gas allocations.So I read with interest a piece on the informative Global Arab Network which suggests the moratorium might never […]
BASF is in talks to joint venture its styrene business before exiting the market, Bloomberg reported last week. Abu Dhabi’s IPIC (International Petroleum Investment Company) could be a strong contender for this transaction. I recently interviewed its managing director, Khadem Al Qubaisi, who told me he was close to a deal in Europe (pictured).IPIC wants […]
International Petroleum Investment Company (IPIC) is in talks with five major petrochemical players in the US and Europe, including Bayer MaterialScience, and expects to close a European acquisition by the first quarter of 2010, the managing director of the Abu Dhabi-based company said on Tuesday.Khadem Al Qubaisi said technology from the new company would be […]
Austrian oil and chemicals group OMV is to intervene in the strategic planning and operation of Canada’s Nova Chemical, following its acquisition earlier this year by Abu Dhabi’s International Petroleum Investment Co (IPIC).IPIC is a partner with OMV in Austria-based plastics major Borealis and also holds a direct stake in OMV. NOVA was acquired in […]