VOL. XXXI

NO. 16

25-JANUARY-1988

UAE

Abu Dhabi Buys 10% of Spains CEPSA

Abu Dhabi's International Petroleum Investment Company (IPIC) has acquired a10% shareholding in the Spanish refining group CEPSA, in a deal which alsoincludes a long-term contract for the supply of 60,000 b/d of Abu Dhabi crude toCEPSA. Negotiations on the agreement have been going on for around two years.

Under the agreement, which was announced in Madrid by CEPSA's Chairman, Mr.Alfonso Escamez, and in Abu Dhabi by IPIC's...