Spanish oil company Repsol YPF SA (REP) is planning to invest EUR5 billion per year for the next five years as part of its strategic plan, which is expected to be unveiled in the first quarter of 2008, reports Gaceta de los Negocios in its Wednesday Internet edition, citing company sources.
In order to finance its plan, the company will continue to dispose of non-strategic assets, the paper adds. In the last five months Repsol has raised some EUR1.13 billion on the sale of non-strategic assets.
On Tuesday, the energy company said it had agreed to sell a 5% stake in Spanish fuel transport company Compania Logistica de Hidrocarburos (10480.MD) for EUR176.5 million.
According to Gaceta, Repsol is already in talks to sell an additional 5% stake in CLH.