VOL. XXXII

NO.34

29-MAY-1989

UAE

IPIC's Stake in CEPSA Rises to 20%

Abu Dhabi's International Petroleum Investment Company (IPIC) has raised itsstake in the Spanish refining group CEPSA from 12% to 20%, following thesignature in Abu Dhabi two weeks ago of an agreement to this effect between IPICand CEPSA. It will be recalled that IPIC acquired its first 10% shareholdingin CEPSA at the beginning of 1988 in a deal which included a long-term contractfor the supply of 60,000 b/d of Abu Dhabi crude to...