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CEPSA wants to expand presence in Morocco
Spanish multinational oil and gas company CEPSA
has chosen Morocco as a preferred destination to
expand its downstream operations.
A statement from the company indicated that
this region is “a favored market for expansion,”
because of its proximity to its refineries on the
south coast of Spain.
CEPSA wants to develop an integrated
downstream business, focused on the sale of petroleum
products at the retail level, B2B sales and
warehousing. In the medium term, the company
wants to increase the volume of fuel sales in the
Moroccan kingdom to 4%.
According to Morocco World News, CEPSA’s
presence in the country is currently limited to one
company, Petrosud, in which it controls a 35%
stake. Petrosud focuses on the commercialisation
of marine oil in the port of Agadir.
Total has signed a partnership with India’s Adani
group that will see the French energy giant reinforce
its presence in the subcontinent’s liquefied
natural gas and retail fuel markets.
The two companies will “build a retail network
of 1,500 service stations over the period of 10
years, on the main roads of the country, such as
highways and intercity connections,” said Total in
a statement this month.
The plan is “to take advantage of a market
growing at 4 per cent per year driven by the development
of road infrastructures and the emergence
of middle class, which has been open to private
investors since 2014,” added Total. The company
will also jointly develop various regasification LNG
terminals, including Dhamra LNG, on the East
coast of India.
“India’s energy consumption will grow among
the fastest of all major economies in the world
over the next decade,” said Patrick Pouyanne,
Total’s chief executive.
India has been at the centre of great interest
from global energy groups looking to tap its demographic
fuelled energy demand.
Saudi Arabia &
Lightsource BP solar
projects in India
Saudi Arabia is interested in partnering with India
to develop complementary supply chains, and
deploy funds and new technologies in a move that
could bring down already low solar power tariffs in
Lightsource BP is also betting big on setting
up solar power projects in the country through
its partnership with the National Investment and
Infrastructure Fund of India (NIIF). “We discussed
with Indian leadership the opportunities to synergise
our vision with India,” said Khalid A. Al-Falih,
Saudi Arabia’s minister for energy, industry and
mineral resources at the India Energy Forum this
month. He said the idea is to develop solar supply
chains while also investing in India.
The proposal from Saudi Arabia comes at a
time when India has pitched the International Solar
Alliance as a counterweight to the Organisation
of the Petroleum Exporting Countries (Opec)—of
which the Middle East country is a prominent
India has also emerged as one of the most
favourable destinations for renewable energy with
investments of about $42 billion.
Total to expand natural gas and fuel retail
activities in India with Adani group partnership
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