Repsol S.A.
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| Type | Sociedad Anónima |
|---|---|
| Traded as | BMAD: REP BCBA: REP OTCQX: REPYY |
| Industry | Oil and gas |
| Predecessor(s) | Instituto Nacional de Hidrocarburos |
| Founded | 1986 |
| Headquarters | Madrid, Spain |
| Area served | Worldwide |
| Key people | Antonio Brufau Niubó (Chairman and CEO) |
| Products | Oil and gas exploration and production, natural gas and LNG trading and transportation, oil refining, petrochemistry |
| Services | Fuel stations |
| Revenue | €60.43 billion (2010)[1] |
| Operating income | €7.621 billion (2010)[1] |
| Profit | €4.693 billion (2010)[1] |
| Total assets | €67.63 billion (end 2010)[1] |
| Total equity | €25.99 billion (end 2010)[1] |
| Employees | 43,300 (end 2010)[1] |
| Subsidiaries | Repsol Petróleo, Repsol Butano, Repsol Química, Repsol Exploración, Petronor y CLH |
| Website | www.repsol.com |
Repsol S.A.[2][nb 1] (Spanish pronunciation: [repˈsol]) is a Spanish multinational oil and gas company based in Madrid, Spain. It is the 15th largest petroleum refining company according to the Fortune Global 500 list,[3] employing over 40,000 people worldwide. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
Repsol also partners with Honda Racing Corporation to compete in MotoGP under Repsol Honda Team.
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History[edit]
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In 1948, REPESA was incorporated for the installation of a refinery in the Valley of Escombreras (Cartagena).
The Spanish government created INH in 1981 as a public organisation to integrate the various oil and gas companies in which the Spanish state had a controlling interest. INH created Repsol in 1986 as a wholly owned subsidiary, bringing together the companies in which the Spanish government had a majority ownership in the areas of exploration and production (formerly Hispanoil), refining (formerly ENPETROL), chemicals and liquefied natural gas (LNG), butane (former Butano SA), CAMPSA and Petronor, and Repsol Quimica (Alcudia).
In 1989, INH partially privatised Repsol, with an IPO of 26% of Repsol capital. Shares of Repsol, SA became listed on stock exchanges in Spain and in New York. Privatization was completed in 1997 when the Spanish government sold the remaining 10% of Repsol capital.
In 1991, the company of Gas Natural was formed.
In November 2008, LUKoil was interested in acquiring approximately 30% of the shares of Repsol (then owned 20% owned by Sacyr and 10% by Caja Madrid).
In 2009, the company entered into an agreement with Cuba to explore for oil in Cuban offshore territory.
In 2010, Repsol signed an agreement for investments estimated in US$10 billion in Iran[4]
Repsol first considered the purchase of Argentinian oil company YPF in 1998, and acquired a majority interest in YPF the following year. The Petersen Group, a company of Argentina controlled by Enrique Eskenazi, agreed in 2007 to buy a percentage of YPF from Repsol. However, in 2012, the Argentine government and Repsol clashed over government threats to nationalise Repsol's Argentinian business YPF[5] The Argentine government officially gained control of YPF later that year, by taking the Repsol holding equal to 51% of the company shares, and leaving Repsol with a small interest.[6] The Petersen Group later failed to make payments on its YPF share purchase from Repsol, and as a result, Repsol took back another 6 percent ownership, and now owns 12.43 percent of YPF.[7]
See also[edit]
References[edit]
- ^ a b c d e f "Annual Report 2010". Repsol YPF. Retrieved 25 April 2011.
- ^ "Repsol cambia el nombre tras expropiación en Argentina", El Nuevo Herald, 2012-05-31
- ^ 2008 list of largest petroleum companies by revenue
- ^ "GAO-10-515R Iran’s Oil, Gas, and Petrochemical Sectors" (PDF). United States Government Accountability Office. 23 March 2010. Retrieved 20 May 2010.
- ^ Financial Times article
- ^ "Argentine Official Gazette Publishes Law 660, YPF Expropriation Now Official". BrightWire.
- ^ "Repsol regains 6% warranty stake in YPF and now owns 12.43% of the company," Mercopress, 1 June 2012.
Notes[edit]
- ^ Originally an initialism for Refinería de Petróleos de Escombreras adding the word Sol (Sun)
External links[edit]
Media related to Repsol S.A. at Wikimedia Commons
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