VOL. XXXI

NO. 29

25-APRIL-1988

UAE

IPIC-CEPSA Refinery Deal Finalized

Abu Dhabi's International Petroleum Investment Company (IPIC) and the Spanishrefining group CEPSA on 8 April signed the final contract for the acquisition byIPIC of a 10~ stake in CEPSA. The deal, which was reached in January (MEES, 25January), also provides for the long-term supply of 60,000 b/d of Abu Dhabicrude to CEPSA. IPIC's stake in the Spanish group will come from a 10% increasein CEPSA's share capital from 26.8bn...