Replies to post #1927 on Addax Petroleum (fka AXC)

[seek the light]

CEPSA started a new stage in August 2011 when it was taken over by a single shareholder, International Petroleum Investment Company (IPIC).

The company has started out on a new road to achieve strong global growth, focusing primarily on its Exploration and Production and Petrochemical business units, without taking advantage of other opportunities that arise in the refining and marketing areas.

In order to accomplish these objectives, the company is steering towards a simple and streamlined structure with well-defined functions, responsibilities and roles (finances, purchasing, human resources, communication and institutional relations, legal, technology, etc), business units that will be centralised and will operate with a high degree of independence.

Our employees will be key to accomplishing this objective and making the new CEPSA possible.

2012-2016 Strategy



Our 2012-2016 Strategic Plan aims to turn CEPSA into one of Europe's leading energy corporations, with a highly integrated organisation and a strong international presence.

To do this we will achieve a better balance and greater diversification in our business units through organic growth and acquisitions, generating funds from the different business units. This will enable us to maintain a healthy balance sheet, keep strict control over risks, enabling us to deal with any possible variation in the economic and industrial climate and make sure that we have the resources available to fund this organic development and take advantage of any possible acquisitions that bring growth and generate value.

The core elements of the 2012-2016 Strategic Plan are as follows:

1. Strong growth in Exploration and Production.

2. International expansion in Petrochemicals.

3. Efficiency maximisation in production centres.

4. Cost control in all Business Units.

5. Increased market share and better return on marketing.