Bloomberg News

Abu Dhabi’s IPIC Can Supply Oil to Spain, Expansion Says

February 04, 2012

Feb. 4 (Bloomberg) -- International Petroleum Investment Co., Abu Dhabi’s sovereign wealth fund that owns Spanish oil company Cepsa, is available to supply the oil to the European country if there is an embargo on Iran, Expansion reported citing unidentified people familiar with the matter.

IPIC Managing Director Khadem Al Qubaisi made the offer during a meeting this week with Spanish government officials, according to Expansion. Iran supplies about 11 percent of Spain’s oil, Expansion said.

--Editors: Linda Shen, Kristen Hallam

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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