As of August 2011, Cepsa is owned by a single shareholder, International Petroleum Investment Company (IPIC).
International Petroleum Investment Company, IPIC, was formed by the Abu Dhabi government in 1984. The company was tasked with making investments in the energy sector and has stakes in more than 15 companies in 10 countries on all five continents, with the following portfolio:
- 60,000 million dollars in consolidated assets.
- The companies in which it has holdings include: EDP, Nova Chemicals, Borealis, Cosmo Oil, Aabar, OMV and Ferrostaal.
IPIC acquired a stake in Cepsa in 1988, and since then both firms have maintained close links and have worked in cooperation. For Cepsa, having IPIC as its sole shareholder has presented it with a magnificent opportunity for growth as well as a significant business challenge.
For more information about IPIC: www.ipic.ae