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Cepsa Snapshot
Compañía Española de Petróleos (CEPSA) has its foot on the gas, the oil, and petrochemicals, too. CEPSA, the second-largest oil company in Spain (behind Repsol YPF), refines 121,900 barrels of crude oil daily, primarily in three refineries. Its oil exploration and production efforts are focused on Algeria, Colombia, Egypt, Peru, and Spain. It has proved reserves of 172.5 million barrels of oil equivalent. CEPSA's marketing network includes more than 1,800 gas stations in Spain and Portugal. It also produces a range of chemical products and has gas and power assets. In 2011 Abu Dhabi's International Petroleum Investment Co. (IPIC), which already owned 47% of CEPSA, acquired TOTAL's 49% stake in the company.
