Repsol S.A.
Repsol S. A. ( until May 2012 Repsol YPF, SA ), based in Madrid is a publicly traded integrated oil company with operations in 29 countries. Repsol is the market leader in Spain and employs more than 25,000 people worldwide. It is one of the ten largest private oil companies in the world and in 2011 generated an annual turnover of € 60.1 billion, net income of € 2.5 billion.
Activities
The Group operates 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, of which five are located in Spain, three in Argentina and one in Peru. It also has major holdings in another refinery in Argentina and two in Brasilien.Um to finance the exploration of new oil reserves off the coast of Brazil, Repsol sold in 2010 40 percent of its Brazilian subsidiary to the Chinese Sinopec.
Repsol sells its products through an extensive network of more than 6,900 tanks and sales offices in Europe and Latin America, of which there are only 3,600 in Spain. In Spain, the Group operates under three brand names with its own retail network: In addition to the brand Repsol itself it has the much older station brand campsa and connected to the network Petronor refinery north.
In the LPG business Repsol sold nearly three million tonnes per year, making it the third largest company in the world. The chemical activities of Repsol are mainly developed at five industrial sites, two of which are located in Spain and three more in Argentina. The most important markets of the Group are located in Southern Europe and the countries of the Mercosur.
In November 2011, Repsol discovered in the Patagonian formation Vaca Muerta (Province of Neuquen ) an oil field; In February 2012, Repsol estimated the shale oil volume there at 23 billion barrels.
History
1981 summed up the Spanish state along its oil and gas activities in the Instituto Nacional de Hidrocarburos (German National Institute for hydrocarbons, INH), founded in 1986 Repsol SA, which at first was wholly owned by the INH. The name was originally derived from a Repsol Motor Oil Brand of Repesa ( Refineria de Petróleos de Escombreras Oil), who had a high level of recognition in the audience and was therefore used in the resolution of the state-owned oil monopoly and an envisaged privatization. 1989 brought INH 26 % of the capital on the stock market. In 1991, the INH the Gas Natural, in the most natural gas activities have been summarized. 1995 a further 19% of the capital of Repsol sold on the stock exchange. A year later the INH offered an additional 11 % of Repsol for sale. 1997 was completed with the sale of the last 10% of the privatization of Repsol. However, the Spanish state retained a golden share, which by 2007 will continue to secure him the influence on important location and sell decisions on which the Zapatero government, however, announced its waiver in February 2006.
Subgroup YPF
The Argentine President Carlos Menem in 1993 with through a share placement, the privatization of state-owned enterprises YPF one. After this placement, the Argentine government initially held 20% of the capital. In 1999, Repsol acquired then a share of 14.99 % of the Argentine government increased its share through a tender offer to approximately 99 % of the capital; but the stock of YPF continued to be listed on the stock exchange. The privatization of YPF was controversial in Argentina to a considerable extent. YPF has been largely integrated into the group who took the name Repsol YPF in the sequence.
In 2008, Repsol sold under pressure the then Argentine government a share of first 15% of the Argentine Petersen Group (later increased to 25% ) and placed a portion of its shares on the stock exchange. In October 2011, the asset allocation was as follows: Repsol ( 57.43 %), Petersen ( 25.46 %), Argentinean state (0.02 %), float ( 17.09% ). On 16 April 2012, the Argentine government announced the immediate nationalization of a 51 % stake in YPF. Repsol described this nationalization as illegal and discriminatory and announced legal action against this measure on. In November 2013, Repsol agreed with the Argentine government to an indemnity of five billion dollars in Argentine government bonds.
In May 2012, the company had changed its name from Repsol YPF back in Repsol.
Exchange
December 31, 2004 1.220.863.463 shares with a nominal value of one euro in the stock market were offered for sale, the value of which to the Spanish stock exchanges on the New York Stock Exchange and the stock market in Buenos Aires will be officially listed. Repsol is contained in a variety of indices, including the IBEX 35, the main stock market index of the Spanish market, and the Dow Jones Euro Stoxx 50
After the company had in 2005 been announced to have more proven reserves than the Anglo-Dutch rival Shell, the market reacted to the admission of Brufau in January 2006 to devalue the reserves to 1.254 million barrels, or about 25 %, with a price drop.
Repsol had a market capitalization of € 27 billion in February 2006.
With 20 percent of the Spanish construction group Sacyr is the main shareholder in Repsol; However Sacyrs CEO Luis Del Rivero had once financed the purchase of Repsol shares with a billion credit and therefore urged a higher dividend payout. Repsol's CEO Brufau, supported by La Caixa, fought against; he wanted to explore with the gains new oil fields. In order to exercise greater pressure on Repsol, Sacyr concluded in 2011 an agreement with another major shareholder, the Mexican oil giant Pemex; This procedure condemned the Supervisory Board of Sacyr as aggressive and dismissed Del Rivero. This means that the agreement between Sacyr and Pemex was void. Instead, closed in January 2012, Pemex and Repsol a strategic alliance.
Line
Following the resignation of Alfonso Cortina was in October 2004 Antonio Brufau Niubò, former president of Gas Natural, Repsol holds 30.8 % stake, nominated as President of the company.
Sponsoring
Repsol sponsors including the Honda factory team in the MotoGP class of the Motorcycle World Championships and the rally works team Mitsubishi.