Total completes stake sale of CEPSA to IPIC

Total S.A., a French multinational oil company, has completed the sale of its 48.83% stake in the Spanish oil refiner Compania Espanola de Petroleos (CEPSA) to the International Petroleum Investment Company of Abu Dhabi (IPIC). CEPSA, with a refining capacity of 528,000 barrels per day, is Spain’s second largest oil company. (August 2, 2011)