EC clears Repsol and Borealis joint venture


The European Commission (EC) Wednesday cleared a proposed joint venture between Spain's Repsol YPF SA group subsidiary Repsol Qu�ca SA and Danish thermoplastics and petrochemicals feedstock company Borealis AS.

The EC said the 50:50 joint venture, which will bring together the two companies' polyolefins businesses and related assets in the Iberian Peninsula, "does not raise any competition concerns."

Borealis is jointly owned by the Norway's Statoil, the Austrian oil and gas company OMV AG, and the International Petroleum Investment Co. of Abu Dhabi.

"The deal does not give rise to any competition concerns in the markets for olefins and polyolefins as the combined market shares are modest. Furthermore there are a significant number of strong competitors," EC said in a statement.

Related Articles

Flint Hills settles Port Arthur pollution case

03/20/2014 Flint Hills Resources (FHR) has reached a settlement with the US federal government to implement innovative technologies to control harmful air pol...

WoodMac: Global ethylene demand, production on the rise

03/20/2014 Ethylene-producing assets that have access to low-cost natural gas feedstocks, such as the ones in North America, will lead the competition in glob...

Earthquake shutters Japanese refinery

03/14/2014 An early-morning earthquake off the island of Kyushu, Japan, on Mar. 14 has resulted in an emergency shutdown of Idemitsu Kosan Co. Ltd.’s Tokuyama...

Fire hits Israeli petrochemical plant

03/11/2014 Gadiv Petrochemicals Industries Ltd., a wholly owned subsidiary of Oil Refineries Ltd. (Bazan), currently is evaluating impacts from a fire that br...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected