Repsol YPF

The Company

Repsol YPF is an integrated international oil and gas company, operating in more than 30 countries and is the leader in Spain and Argentina.  It is one of the ten major private oil companies in the world and the largest private energy company in Latin America in terms of assets. 

Repsol YPF's Vision: "To be an international integrated oil and gas company, perceived with admiration, and focused on customer service and value creation"

Principal data

Exploration and Production

This area includes oil and gas exploration and production activities carried out by the company throughout the world.
Repsol YPF’s objective in this area is profitable growth that is diversified, sustainable and committed to safety, the environment and local communities. This is achieved through the following lines of the 2008-2012 Strategic Plan: the expansion of production and reserves, geographical diversification of activities, operational excellence as a low-cost operator and profitability through an increase in average unit margins.
Profit amounted to Euros 2,968 million in 2007. EBITDA for the year was Euros 5,227 million compared to Euros 5,609 million for 2006.
In 2007 oil and gas production totalled 1,039 million barrels of oil equivalent per day.
In Liquefied Natural Gas (LNG), one of the company’s growing areas, the participation in projects such as Peru LNG, Atlantic LNG and Canaport reinforces Repsol YPF’s position in this business. 

Refining & marketing

This area includes oil refining activities in which Repsol YPF is leader in the Spanish and Argentine markets, and is also present in Peru and Brazil. Repsol markets oil products in 12 countries in Europe and Latin America through a network of over 6,500 points of sale. 
Profit in 2007 increased by 27.1% on the prior year, reaching Euros 2,358 million. EBITDA totalled Euros 2,545 million, compared to Euros 2,640 million in 2006.
In 2007, 56.9 million tonnes of crude were processed, up 1.4% on the prior year, and sales reached 61,467 thousand tonnes, an increase of 4.7% on 2006.
Sales of LPG totalled 3,793 thousand tonnes, representing growth of 1.8% on the prior year.

Chemicals

The company's chemical activities are carried out principally in Spain, Argentina, and Portugal, and basic petrochemical production focuses on obtaining olefins and aromatics. In derivatives, the three main products are polyolefin, intermediate products, and industrial products.
Profit on chemical operations during 2007 reached Euros 231 million, with EBITDA totalling Euros 402 million, compared to Euros 490 million in the previous year.
Sales of petrochemical products grew to 4,926 million tonnes, representing an increase of 3.1%. Basic products accounted for 968 thousand tonnes and derivatives, 3,958 thousand tonnes. 

Gas and power

The Repsol YPF Gas & Power business comprises natural gas supply, storage, transport, distribution and marketing in Spain and Latin America, participation in projects for gas-fired power generation and its marketing.
The company distributes natural gas, directly or via its subsidiaries, to over 9 million customers in Spain and Latin America, of which over 4.5 million are located in Latin America.
Income from operations in 2007 rose to Euros 516 million. EBITDA totalled Euros 717 million, representing growth of 21.1% on prior year’s figures.
Repsol YPF pursues a management oriented to profitability and growing to increase the return to shareholders and other stakeholders.

Corporate Responsibility

For Repsol YPF, corporate responsibility forms the framework of its operations with regard to the interest groups with which it interrelates: shareholders, customers, partners and suppliers, employees and the community. This framework is based on ethics and transparency; caring for the environment; safety, and fulfilling our commitments to our employees and society. The people who make up Repsol YPF form the basis for all of the organisations initiatives and business activities.  The company has a workforce of over 35,000 employees, in more than twenty different countries.

Staff by geographical location
	2005	2006	2007
Spain	18,212	18,522	18,431
Latin America	15,562	16,241	15,723
Rest of World	2,135	2,168	2,546
Total	35,909	36,931	36,700

With its wholehearted commitment to technological innovation, Repsol YPF is able to boost its capacity for technological development in accordance with its business growth.  In order to do this it has a Technology Centre that is on a par with the best technological complexes within the international energy sector.
This commitment to innovation is accompanied by the development of environmentally friendly technologies.  For Repsol YPF, environmental protection and safety  are key factors in the running of the company. The Environmental and Safety Policy is implemented in all of the company's activities by means of a management system that establishes the organisational principles, the planning, follow-up and auditing systems and the basic conditions shared by the whole company regarding the environment and safety.
Repsol YPF understands that its commitment to society is based upon its capacity to generate and distribute wealth, which is a result of its efficiency in carrying out its activities as a company within the energy sector.  The company's social action is in keeping with its long-term commitment to the communities in which it operates and helps to consolidate its position in the countries in which it is present, establishing long-lasting relationships based on cooperation with the host communities.