Cepsa To Sell Upstream Assets in Peru to PetroTal

May 8, 2024
The agreement is part of Cepsa’s transition toward sustainable energy solutions such as green hydrogen and biofuels.

Chemical firm Cepsa has signed an agreement with Canadian company PetroTal Corp. to sell its Exploration and Production business in Peru, including the transfer of the company CEPSA PERUANA S.A.C., which manages the Los Angeles oil field. Completion of the transaction is subject to conditions precedent, including regulatory approvals.

"This transaction supports our transformation as a company and our strategy to make Cepsa a benchmark in the energy transition by the end of this decade, when we expect more than half of our business to come from sustainable energies such as green hydrogen and biofuels," said Cepsa CEO Maarten Wetselaar in a press release.

The operation forms part of the company's Positive Motion 2030 strategy designted to transform its traditional business towards sustainable energy solutions such as green hydrogen, 2G biofuels, and ultra-fast electric charging networks.

Sponsored Recommendations

Heat Recovery: Turning Air Compressors into an Energy Source

More than just providing plant air, they're also a useful source of heat, energy savings, and sustainable operations.

Controls for Industrial Compressed Air Systems

Master controllers leverage the advantages of each type of compressor control and take air system operations and efficiency to new heights.

Discover Your Savings Potential with the Kaeser Toolbox

Discover your compressed air station savings potential today with our toolbox full of calculators that will help you determine how you can optimize your system!

The Art of Dryer Sizing

Read how to size compressed air dryers with these tips and simple calculations and correction factors from air system specialists.