Algeria’s Sonatrach has continued its habit of signing memorandums of understanding (MoUs), adding OMV and Cepsa to its list.
Sonatrach has increased its stake in the Medgaz pipeline to 51%, following the completion of a deal with Spain’s Cepsa.
Sonatrach has signed a deal to increase its stake in the Medgaz gas pipeline to 51%, from 43%. The remainder will be held by Naturgy.
Carlyle Group LP plans to buy a stake valued at as much as $4.8 billion in Cepsa from Mubadala Investment Co., about six months after the Abu Dhabi sovereign fund shelved plans to list the Spanish oil refiner.
Abu Dhabi is pushing ahead with an initial public offering for Spanish oil company Cia Espanola de Petroleos SAU, in what could be the largest such deal in a decade.
Abu Dhabi awarded a second slice of its offshore oil concessions in as many weeks, this time to Spanish refiner and producer Cia Espanola de Petroleos SA for a $1.5 billion fee.