Mubadala has greatly expanded its energy sector investments in recent years. First came the merger with fellow state-investor IPIC in 2017 (MEES, 24 February 2017), and after a period of consolidation last year saw a slew of major investments (MEES, 20 April 2018).

The state investment vehicle’s consolidated energy portfolio sits in the Petroleum and Petrochemicals platform, which is headed up by CEO Musabbeh al-Kaabi. This runs the gamut from upstream, midstream and downstream, through multiple portfolio companies including Mubadala Petroleum, Cepsa (63%), Nova Chemicals (100%) and OMV (24.9%). Mr Kaabi tells MEES that these portfolio companies have made “investments of near to $13bn during the past 30 months alone.” (CONTINUED - 975 WORDS)