{"id":84079,"date":"2024-05-09T00:00:00","date_gmt":"2024-05-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/"},"modified":"2024-05-09T00:00:00","modified_gmt":"2024-05-09T00:00:00","slug":"mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/","title":{"rendered":"Mubadala-backed Cepsa sells upstream assets in Peru in green energy shift"},"content":{"rendered":"

Mubadala-owned Spanish oil refiner <\/strong>Cepsa<\/a><\/strong> has divested its upstream operations in Peru to <\/strong>Canada\u2019s <\/strong>PetroTal Corp<\/a><\/strong> to shift investments towards green energy<\/strong>, according to a press release<\/a>. The transaction also includes the transfer of one of Cepsa\u2019s subsidiaries that manages a Los Angeles oil field to the Canadian oil company. The value of the transaction was not disclosed.<\/p>\n

The transaction is part of Cepsa\u2019s 2030 green strategy<\/strong>, which will see the company shift towards sustainable energy by investing around EUR 8 bn in green hydrogen and biofuel for heavy transportation and industries such as trucking, shipping, and airlines, Bloomberg<\/a> reported in March.<\/p>\n

More on Cepsa:<\/strong> Abu Dhabi wealth fund Mubadala holds a majority stake<\/a> in Cepsa, the second largest oil company in Spain, while the global investment firm The Carlyle Group owns 37%. <\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction is part of Cepsa\u2019s 2030 green strategy to shift investments towards clean energy<\/p>\n","protected":false},"author":1,"featured_media":84080,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[11,79,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseclimate","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"fa2af5d7-c6c1-42f2-a93d-d68bc0690286","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/543.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mubadala-backed Cepsa sells upstream assets in Peru in green energy shift","related_issue":[84072],"teaser":"The transaction is part of Cepsa\u2019s 2030 green strategy to shift investments towards clean energy","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.255f0de1-1797-411c-847d-8ea7d44c0ee4.mp3"},"yoast_head":"\nMubadala-backed Cepsa sells upstream assets in Peru in green energy shift - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mubadala-backed Cepsa sells upstream assets in Peru in green energy shift\" \/>\n<meta property=\"og:description\" content=\"The transaction is part 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