Compañía Española de Petróleos

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Compañía Española de Petróleos, S.A.U.
Type Sociedad Anónima Unipersonal
Industry Petroleum
Founded Madrid, Spain (September 26, 1929 (1929-09-26))
Headquarters Madrid, Spain
Area served Nationwide
Key people Khadem Al Qubaisi, President
Pedro Miró Roig, CEO[1]
Products Petroleum
Natural gas
Motor fuels
Aviation fuels
Services Service stations
Revenue €27.583 billion (2013)
Owners International Petroleum Investment Company (100%)
Employees 11,743 (2012)
Website www.cepsa.com

Compañía Española de Petróleos, S.A.U. (CEPSA; Spanish Petroleum Company) is a Spanish multinational oil and gas company. It operates in several European countries as well as in Algeria, Canada, Colombia, Morocco, Brazil, and Panama. The company currently produces around 260,000 barrels per day (41,000 m3/d) and has a refining capacity in three refineries of 21 million tonnes/year.

History[edit]

Cepsa was founded in 1929 as a private company leaded by Francisco Recasens, with its first refinery located at Tenerife in the Canary Islands. Because of the CAMPSA state monopoly of fuel distribution, Cepsa sold its production to that company. Tt expanded to lubricant production in 1950 and petrochemical products in 1955. In 1964 it opened a factory in Portugal, and in 1967 it added a second refinery at San Roque de Cádiz. After relaxations of the state monopoly, Cepsa bought a portion of Campsa petrol stations in 1992.

In 1988, Abu Dhabi's International Petroleum Investment Company (IPIC) bought a 10% stake of Cepsa. Later Elf Aquitaine bought a 20% stake, and Cepsa became a publicly traded company in 1989. Cepsa bought a third refinery in Huelva in 1991, and entered the liquefied petroleum gas market in 1998. The company expanded to the United Kingdom, Netherlands, Canada, Algeria, Brazil, Colombia and Peru. In 2011 IPIC bought the full company for 267 million euros.[2]

In November 2013, the firm agreed to buy Coastal Energy Co for around $2.21 billion.[3]

Sponsorship[edit]

Cepsa has sponsored the Spanish national football team since 2007 and since 2011 is one of the main partners of the Toro Rosso Formula One racing team.

External links[edit]

References[edit]