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Repsol YPF, S.A.
Type Public (BMADREP)
Predecessor Instituto Nacional de Hidrocarburos
Founded 1986
Headquarters Madrid, Spain
Area served Worldwide
Key people Antonio Brufau Niubó (Chairman of the board and CEO)
Industry Petroleum industry
Products Oil and gas exploration and production, natural gas and LNG trading and transportation, oil refining, petrochemistry
Services Fuel stations
Revenue €60.98 billion (2008)[1]
Operating income €5.083 billion (2008)[1]
Profit €2.711 billion (2008)[1]
Employees 36,300 (2008)[1]
Website www.repsol.com

Repsol YPF, S.A. (originally an initialism for Refineria de Petróleos de Escombreras Oil - Yacimientos Petrolíferos Fiscales Sociedad Anónima, BMADREP) is an integrated Spanish oil and gas company with operations in 29 countries. The bulk of its assets are located in Spain and Argentina, as a result of the 1999 takeover of Argentine energy firm YPF by the Spanish conglomerate Repsol S.A. within the controversial privatisations by president Carlos Menem. It is now the 15th largest petroleum refining company according to the Fortune Global 500 list[2], employing over 36,000 people worldwide.

In May 2006 Repsol announced it was planning to float between 15% and 20% of YPF's shares on the Buenos Aires Stock Exchange.

Repsol also partners with Honda Racing Corporation to compete in MotoGP under Repsol Honda Team.

Contents

History

1948: REPESA incorporation (oil refineries located in Escombreras) created for the installation of a refinery in the Valley of Escombreras (Cartagena)

1981: Creation of INH: Public organization created to integrate the various companies operating in the oil and gas sectors in which the Spanish state had a controlling interest or was the sole owner.

1986: Creation of the Repsol group: Its sole shareholder is the INH. Repsol brings together the companies in which the Spanish government had a majority ownership in the areas of Exploration and Production (formerly Hispanoil) and Production, Refining (formerly ENPETROL), Chemical and Liquefied Natural Gas (LNG), Butane (former Butano SA) , CAMPSA and Petronor. Repsol Quimica (Alcudia).

1989: The State (INH) began the privatization of Repsol. IPO of 26% of Repsol capital. Shares of Repsol, SA became listed on stock exchanges in Spain and in New York.

1991: The company of Gas Natural was formed.

1997: The State completes the process of privatization of Repsol. IPO of 10% of Repsol capital.

1998: Repsol considers the privatization of YPF.

1999: Acquisition of YPF by Repsol.

2007: Purchase of 14.9% by the Petersen Group, a company of Argentina controlled by Enrique Eskenazi .

In November 2008 LUKoil was interested in acquiring approximately 30% of the shares of Repsol (20% owned by Sacyr and 10% of Caja Madrid).

See also

References

External links

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