In a significant move towards sustainable energy, the European Investment Bank (EIB) has partnered with Cepsa to fund the construction of a pioneering advanced biofuels plant. The €285 million loan agreement facilitates the establishment of this facility adjacent to the La Rábida Energy Park in Andalusia, aiming to boost the region’s economy and advance Europe’s […]
In a significant move in the energy market, Cepsa has agreed to acquire the Ballenoil service station network, which currently includes more than 220 establishments in Spain. Subject to regulatory approval, this acquisition will expand Cepsa’s service-station business to over 2,000 locations in the Iberian Peninsula. Maintaining Ballenoil’s Brand and Growth Strategy Cepsa plans to […]
Baja oil discovery in Suriname: Petronas said that its subsidiary Petronas Suriname E&P (PSEPBV) has announced an oil discovery in Suriname through the drilling of the Baja-1 exploration well in offshore Block 53. According to the Malaysian oil and gas company, the Baja-1 well is situated nearly 189km off the coast of Suriname at a […]
Oil and gas industry news : Total, Sonatrach and Cepsa have started production from the Timimoun gas project in Algeria, almost nine years after the approval of its development plan by the Algerian National Oil and Gas Development Agency (ALNAFT). Algerian national oil and gas company Sonatrach owns 51% in the Timimoun natural gas project […]
Cepsa, a Spanish oil and gas company has picked up a participating stake of 20% in an Abu Dhabi offshore concession SARB and Umm Lulu for a price of AED 5.5 billion ($1.5 billion). The stake in the Abu Dhabi offshore concession was granted by the Abu Dhabi National Oil Company (ADNOC), representing the Abu […]