Pemex Selling 7.86% of Repsol Worth $3B

Posted by Eric Haun
Tuesday, June 03, 2014

Mexico's national oil company Pemex is selling a 7.86 percent stake in Spanish oil firm Repsol, worth about 2.2 billion euros ($3.0 billion) at current market prices, Citigroup and Deutsche Bank, the banks handling the sale, said on Tuesday.

The sale, to be carried out through an accelerated book build, is nearly all of the Mexican firm's holding in Repsol, where it is the company's third largest shareholder with an 8.75 percent stake.

Mexican government officials had opened the door to a Repsol stake sale in the past few weeks when Repsol appointed a chief executive officer whom Pemex had not backed.

The sale comes before Mexican President Enrique Pena Nieto is due to make his first official visit to Spain on June 9-10.

Repsol declined to comment and Pemex could not be immediately reached for comment.

Repsol's shares closed on Tuesday down 0.19 percent at 20.865 euros each.

($1 = 0.7342 Euros)

(Reporting by Tracy Rucinski. Editing by Jane Merriman)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Finance

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

Energy

Optimized Tug-Barge System Designs by Robert Allan

Optimized Tug-Barge System Designs by Robert Allan Ltd. by David R. Connand Robert G. Allan, P.Eng. Some veteran Mississippi pushboats and barges have been

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

News

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Government Update

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Thordon Bearings Secures AK Ferry Contract

Thordon Bearings has received an order to supply its COMPAC system to two Alaska Ferry newbuilds under construction at the Vigor Industrial shipyard in Ketchikan, Alaska.

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1716 sec (6 req/sec)