VOL. XLI
No. 44
2-November-1998
UAE
IPIC/Cepsa Set Up Marketing Joint Venture For Morocco
Abu Dhabis downstream investment arm, International PetroleumInvestment Company (IPIC), and Spains Compania Espanola de Petroleos (Cepsa) haveset up a 50/50 joint venture company Cepsa Maghreb to market and distributepetroleum products in Morocco. The two partners have reportedly invested $73mn in the newventure which is expected to meet rising product demand in Morocco. IPIC has a 9.54% stakein Cepsa.
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