Repsol
| Repsol SA
|
|
|---|---|
 |
|
| legal form | Sociedad Anónima |
| ISIN | ES0173516115 |
| founding | 1987 |
| Seat | Madrid , Spain |
| management | Josu Jon Imaz San Miguel , ( CEO ) |
| Number of employees | 24,289 (2014) |
| sales | EUR 47.29 billion (2014) |
| Branch | oil |
| Website | www.repsol.com |
Repsol SA (until May 2012 Repsol YPF, SA ; Refineria de Petróleos de Escombreras Oil Yacimientos Petrolíferos Fiscales , Sociedad Anónima ), based in Madrid, is a listed, integrated oil company with activities in 29 countries. Repsol is the market leader in Spain and employs around 25,000 people worldwide. It is one of the ten largest private mineral oil companies in the world and achieved a net profit of € 1.12 billion in 2014 with annual sales of € 47.3 billion .
activities
The group works in the following sectors:
- Exploration and production
- Refining and Marketing
- chemistry
- natural gas
With a refining capacity of 1.2 million barrels per day, the company has nine refineries, five of which are in Spain, three in Argentina and one in Peru . It also has significant stakes in another refinery in Argentina and two more in Brazil . In 2010 Repsol sold 40 percent of its Brazilian subsidiary to the Chinese company Sinopec in order to finance the exploration of new oil reserves off the Brazilian coast .
_03.jpg)
Repsol sells its products through an extensive network of more than 6,900 petrol and sales outlets in Europe and Latin America , 3,600 of which are in Spain alone. In Spain alone, the group operates its own network of petrol stations under three brands : In addition to the Repsol brand, these include the much older Campsa brand and the Petronor network in northern Spain, which is connected to the refinery in Muskiz (province of Bizkaia in the Basque Country ) .
In the liquefied gas business , Repsol sells almost three million tons annually, making it the third largest company in the world. Repsol's chemical activities are mainly developed in five industrial sites, two of which are in Spain and three more in Argentina. The Group's most important markets are in Southern Europe and the Mercosur countries .
In November 2011, Repsol discovered an oil field in the Patagonian formation Vaca Muerta ( Neuquén province ); In February 2012, Repsol estimated the tight oil volume there at 23 billion barrels .
history
In 1981 the Spanish state combined its oil and natural gas activities in the Instituto Nacional de Hidrocarburos (German National Institute for Hydrocarbons , INH), and in 1986 founded Repsol SA, which was initially wholly owned by INH. The acronym Repsol originally came from a motor oil brand of REPESA ( Refinería de Petróleos de Escombreras SA), which had a high level of public awareness and was therefore used in the context of the dissolution of the state oil monopoly and a proposed privatization. In 1989 INH brought 26% of the capital to the stock exchange . In 1991 the INH founded Gas Natural , in which most of the natural gas activities were brought together. In 1995 a further 19% of Repsol's capital was sold on the stock exchange. A year later, the INH offered a further 11% of Repsol for sale. In 1997, the privatization of Repsol was completed with the sale of the last 10%. The Spanish state, however, retained a gold share , which will continue to ensure that it has influence on important location and sales decisions until 2007 , which the Zapatero government announced in February 2006 that it would be waiving.
Subgroup YPF
The Argentine President Carlos Menem initiated the privatization of the state-owned company YPF in 1993 through a share placement . After this placement, the Argentine state initially held 20% of the capital. In 1999 Repsol then acquired a stake of 14.99% from the Argentine state and increased its stake to approx. 99% of the capital through a takeover offer ; YPF shares remained listed on the stock exchange. The privatization of YPF has been highly controversial in Argentina. YPF was largely integrated into the group, which subsequently also assumed the name Repsol YPF.
In 2008, under pressure from the Argentine government at the time, Repsol sold a stake of initially 15% to the Argentine Petersen Group (later increased to 25%) and placed part of its shares on the stock exchange. In October 2011 the capital distribution was as follows: Repsol (57.43%), Petersen (25.46%), Argentine State (0.02%), free float (17.09%). On April 16, 2012, the Argentine government announced the immediate nationalization of a 51 percent stake in YPF. Repsol called this nationalization illegal and discriminatory and announced legal action against this measure. In November 2013, Repsol reached an agreement with the Argentine government on compensation of five billion dollars in Argentine government bonds.
In May 2012 the company changed its name back from Repsol YPF to Repsol.
Stock exchange
On December 31, 2004, 1,220,863,463 shares with a nominal value of one euro were offered for sale on the stock exchange, the value of which is officially listed on the Spanish stock exchanges, the New York Stock Exchange and the Buenos Aires Stock Exchange. Repsol is included in a large number of indices, including the IBEX 35 , the most important stock exchange index in the Spanish market, and the Dow Jones Euro Stoxx 50 .
After the company had announced in 2005 that it had greater proven reserves than its Dutch-British competitor Shell , the market reacted to Brufau's admission in January 2006 that the reserves had been devalued by 1.254 million barrels, or around 25%, with a price drop .
In February 2006 Repsol had a market value of € 27 billion.
The Spanish construction company Sacyr is Repsol's main shareholder with 20 percent ; however, Sacyr's CEO Luis Del Rivero had financed the purchase of Repsol shares with a billion-dollar loan and therefore pushed for a higher dividend distribution. Repsol's CEO Brufau, supported by La Caixa , resisted; he wanted to use the profits to explore new oil fields. In order to exert greater pressure on Repsol, Sacyr concluded an agreement in 2011 with another major shareholder, the Mexican oil giant Pemex ; Sacyr's board of directors condemned this practice as aggressive and dismissed Del Rivero. This also voided the agreement between Sacyr and Pemex. Instead, in January 2012, Pemex and Repsol formed a strategic alliance.
management
After Alfonso Cortina's resignation , Antonio Brufau Niubó , the former President of Gas Natural , in which Repsol holds 30.8% of the shares, was nominated as President of the company in October 2004 .
Sponsorship
Repsol sponsors the Honda works team in the MotoGP class of the motorcycle world championship and the Mitsubishi works rally team . Until 2012, Repsol was the main sponsor of the Seat factory team at the WTCC. Repsol was the recommended oil for Seat brand vehicles until 2011, where it was replaced by Castrol in 2012 . The first filling of the Seat and Audi vehicles built by Seat at the Martorell plant is still from Repsol to this day.
Web links
Individual evidence
- ↑ a b Annual accounts and consolidated auditors report 2014 (PDF; 2.7 MB)
- ↑ Chinese finance Repsol's oil drilling off the Brazilian coast - Die Welt, October 6, 2010
- ↑ Huge oil discovery in Argentina
- ↑ YPF website (accessed on May 2, 2012) ( Memento of the original from February 9, 2013 in the web archive archive.today ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Repsol press release of April 17, 2017. (PDF; 62 kB) Accessed on May 2, 2012 (English).
- ↑ Argentina compensates oil company Repsol. n-tv , November 26, 2013, accessed November 27, 2013 .
- ↑ Major shareholder cornering the CEO . In: The world . August 31, 2011.
- ↑ Sacyr board ousts chairman warring ( Memento of 27 September 2012 at the Internet Archive ) - FT 20 October, 2011.
- ^ Pemex and Repsol sign strategic alliance - FT, January 25, 2012
