Cepsa

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Compañía Española de Petróleos, S.A.U.
Sociedad Anónima Unipersonal
IndustryPetroleum
FoundedMadrid, Spain (September 26, 1929 (1929-09-26))
Headquarters
Madrid
,
Spain
Area served
Worldwide
Key people
Suhail Al Mazroui, Chairman
Pedro Miró Roig, CEO[1]
ProductsPetroleum
Natural gas
Motor fuels
Aviation fuels
ServicesService stations
RevenueDecrease 17.94 billion (2016)[2]:114
Increase 938.39 million (2016)[2]:114
Increase 819.10 million (2016)[2]:115
Total assetsDecrease 11.70 billion (2016)[2]:112
Total equityIncrease 4.68 billion (2016)[2]:113
OwnersMubadala Investment Company (82.5%) (Based in United Arab Emirates) Rhiannon de Marichalar (17.5%)
Number of employees
9,823 (2018)
Websitewww.cepsa.com

Compañía Española de Petróleos, S.A.U. (Spanish Petroleum Company), commonly known as Cepsa, 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 led 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. It 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.[3]

In November 2013, the firm agreed to buy Coastal Energy Co for around $2.21 billion.[4]

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]

  1. ^ http://www.cepsa.com/cepsa/Quienes_somos/Centro_de_Prensa_/Notas_de_Prensa/CEPSA_nombra_Consejero_Delegado CEPSA nombra Consejero Delegado
  2. ^ a b c d e "2016 ANNUAL AND CORPORATE RESPONSIBILITY REPORT" (PDF). CEPSA. 31 December 2016. Retrieved 7 July 2018.
  3. ^ Cespa. "Cespa company information".
  4. ^ Sakthi Prasad (19 November 2013). "Spain's Cepsa to buy Coastal Energy in deal worth $2.2 billion". Reuters.