UPDATE 1-Cepsa sells upstream assets in Colombia as first quarter loss narrows [Yahoo! Finance]
The Carlyle Group Inc. (CG)
Last the carlyle group inc. earnings: 4/30 06:40 am
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Source: Yahoo! Finance
MADRID, April 26 (Reuters) - Spain's second-largest oil company Cepsa moved forward with its strategic shift toward low carbon businesses by selling its upstream assets in Colombia while narrowing its first-quarter loss thanks to a strong refining business. The buyer is Cedco, an affiliate of Colombian oil producer SierraCol, a Cepsa spokesperson said on Friday in an emailed statement, declining to further comment on the deal. The divestment is in line with the company's strategic shift. Owned by Abu Dhabi fund Mubadala and the Carlyle Group, Cepsa is investing up to 8 billion euros ($8.58 billion) in its shift towards green hydrogen and biofuels. Last year, it sold its upstream assets in Abu Dhabi. As a result of this overhaul, earnings from its upstream business declined 77% in the first quarter. However, earnings at its energy division more than doubled on the back of the strong performance of its refining operations. The quarterly loss narrowed to 8 million euros. In th
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