Repsol SA history, profile and corporate video
Repsol SA is engaged in the exploration and production of crude oil, natural gas, and refined petroleum. It operates through the following segments: Upstream, Liquefied Natural Gas (LNG), Downstream, and Gas Natural Fenosa. The Upstream segment comprises of the oil and gas operations. The LNG segment includes midstream, natural gas operations, and marketing of natural and liquid natural gas. The Downstream segment is involved in refining and sales activities for oil products, chemicals, and liquefied petroleum gas. The Gas Natural Fenosa segment handles the sales activities for natural gas, power generation, and distribution and sale of electricity. The company was founded on October 17, 1927 and is headquartered in Madrid, Spain.“
“Repsol YPF History
Campsa and Repesa
In 1927 CAMPSA (Compañía Arrendataria del Monopolio de Petróleos S.A), headed by Miguel Primo de Rivera y Orbaneja, was created with the objective of administering concessions in handing over the state monopoly of petroleum companies. Originally the company was arranged so that the state would have a minority stake. The Creation of CAMPSA intensified the progress of the Spanish refinery industry. In 1941 the Spanish government under Francisco Franco created the INI (National Industry Institute), in order to finance and promote Spanish industries. The INI supported CAMPSA in its exploration of Tudanca, Cantabria, a monumental moment in Spanish exploration on the Iberian Peninsula. The year 1947 marked the end of a 20-year contract between the Spanish state and CAMPSA, decentralizing services while at the same time giving specific rights to the state to intervene in the company’s affairs, minus distribution and commercialization, which remained exclusive to CAMPSA.
In 1948, REPESA was incorporated for the installation of a refinery in the Valley of Escombreras (Cartagena).
‘REPESA became the symbol of the increasing industrial consolidation in the refining sector, as it took on the production and marketing of petrol, oils and lubricants under its own brand name.’ From the beginning, REPSOL was REPESA’s “star brand” of petroleum.
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 1987 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.
Early branding and promotion
In late 1968, REPESA started to develop a prototype team for MotoGP racing and a sponsorship deal. These were the first steps in creating what would one day be known as team Repsol. Then in 1971 motor sport was relaunched in Spain and Angel Nieto won the world championship in the 125 cc category sporting the Repsol logo on his bike, as a REPESA product brand.
International expansion
In 1999 Repsol bought 97.81% of the Argentine oil and gas company YPF S.A., which at the time was the largest oil-and-gas company in Latin America. The acquisition better positioned Repsol as a multinational company. Repsol’s acquisition of YPF also increased its capital to 288 million shares worldwide. Repsol’s presence in Latin America was one of the keys to corporate growth. It was the first full year after the acquisition of YPF and the consolidation of Gas Natural SDG by global integration. The company’s business structure was more balanced and international. Then in December 2001 Repsol completed an asset exchange agreement with Petrobras, making it the second largest consolidated oil company in Brazil. The same year Repsol announced new discoveries in Libya, Indonesia, Spain, Venezuela, Argentina, and Bolivia, prompting the development and marketing of its electricity business through Gas Natural SDG. In 2003 Repsol tripled its reserves and production of hydrocarbons in Trinidad and Tobago. North American expansion in 2008 saw Repsol open a massive regasification plant on the east coast of Canada with enough capacity to supply up to 20% of the gas demand for New York and New England.
Change to the company profile
In 2008 Repsol began an intensive exploration campaign in which it focused its efforts on and invested in exploring in new areas, with results that enabled the company to change its profile. Using cutting edge technology, the company made over 30 hydrocarbon discoveries, many of which were considered to be among the largest in the world. This efforts was recognized by Petroleum Economist magazzine as the “Best energy company of the year”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Repsolmalaysia“