Tue 17 Dec 2013 15:32

CEPSA sells 5% of its stake in CLH


Spanish oil firm in deal to sell 5% of its shareholding in Compañía Logística de Hidrocarburos (CLH) to private investment company Ardian.

Spanish oil firm Compañía Española de Petróleos, S.A.U. (CEPSA) has agreed to sell 5 percent of its stake in Compañía Logística de Hidrocarburos (CLH) to the independent private investment company Ardian.

After the sale, CEPSA says it will still hold a 9.15 percent stake in CLH and will keep two representatives on the Board of Directors, who will be appointed once the transaction has been concluded.

Pedro Miró, CEO of CEPSA, remarked: "CLH has always been an important investment for CEPSA. We are satisfied with our involvement and believe our holdings will be sufficient to fulfil our objectives. CEPSA is focusing its efforts on the Exploration and Production area, and the company's interests are adequately represented in the Spanish fuel storage and distribution company."

The deal is set to be closed at the end of 2013.

Banco Bilbao Vizcaya Argentaria (BBVA) Bank has been acting as advisor in the transaction.
Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.
Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.
Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.
Stanley George, VPS Group Technical and Science Manager, VPS. How to engineer and manage green shipping fuels | Stanley George, VPS  

Effective management strategies and insights for evolving fuel use.
Sweden flag with water in background. Swedish government bans scrubber wastewater discharges  

Discharges from open-loop scrubbers to be prohibited in Swedish waters from July 2025.
The ME-LGIA test engine at MAN's Research Centre Copenhagen. MAN Energy Solutions achieves 100% load milestone for ammonia engine  

Latest tests validate fuel injection system throughout the entire load curve.
Terminal Aquaviário de Rio Grande (TERIG), operated by Transpetro. Petrobras secures ISCC EU RED certification for B24 biofuel blend at Rio Grande  

Blend consisting of 24% FAME is said to have been rigorously tested to meet international standards.
Avenir LNG logo on sea background. Stolt-Nielsen to fully control Avenir LNG with acquisition  

Share purchase agreement to buy all shares from Golar LNG and Aequitas.
Seaspan Energy's 7,600 cbm LNG bunkering vessel, s1067, built by Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. Bureau Veritas supports launch of CIMC SOE's LNG bunkering vessel  

Handover of Seaspan Energy's cutting-edge 7,600-cbm vessel completed.
The world's first methanol-fuelled container ship, Laura Maersk. Methanol as a marine fuel | Steve Bee, VPS  

How environmental legislation has driven the development of low-sulphur fuels and methanol-ready ships.

↑  Back to Top


 Related Links