nima traded as bmad rep bcba rep otcqx repyy industry oil and gas predecessor instituto nacional de hidrocarburos founded 1987 ; 29 years ago 1987 headquarters repsol campus madrid spain area served worldwide key people antonio brufau niub chairman josu jon imaz san miguel ceo products oil and gas exploration and production natural gas and lng trading and transportation oil refining petrochemistry services fuel stations revenue 44.67 billion 2014 operating income 2.571 billion 2013 profit 195 million 2013 total assets 65.086 billion end 2013 total equity 27.920 billion end 2013 number of employees 24 214 end 2013 subsidiaries repsol petr leo repsol butano repsol qu mica repsol exploraci n petronor website www.repsol.com repsol oil refinery in puertollano . a repsol service station . repsol s.a. 1 nb 1 spanish pronunciation rep sol is an integrated global energy company based in madrid spain . it carries out upstream and downstream activities throughout the entire world . it has more than 24 000 employees worldwide . it is vertically integrated and operates in all areas of the oil and gas industry including exploration and production refining distribution and marketing petrochemicals power generation and trading . repsol also partners with honda racing corporation to compete in motogp under repsol honda team . contents 1 history 1.1 campsa and repesa 1.2 early branding and promotion 1.3 international expansion 1.3.1 canary islands 1.4 change to the company profile 1.5 talisman acquisition 2 company name and origins 3 business areas 3.1 upstream 3.2 downstream 3.3 chemicals 3.4 electricity and gas 4 brief chronology 5 expropriation of ypf 6 environmental record 7 see also 8 references 9 notes 10 external links history edit campsa and repesa edit in 1927 campsa compa a arrendataria del monopolio de petr leos 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 . 2 in 1948 repesa refiner a de petr leos de escombreras s.a. 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 . 2 from the beginning repsol was repesa s star brand of petroleum . 2 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 october 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 s.a. campsa and petronor and repsol qu mica alcudia . in 1989 inh partially privatised repsol with an ipo of 26 % of repsol capital . shares of repsol s.a. 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 edit 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 repsol honda . 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 . 2 international expansion edit 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 . 2 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 . 2 canary islands edit following years of opposition from environmentalist groups spain finally gave permission in august 2014 for the company and its partners to explore prospects off the canary islands . 3 eventually in january 2015 after two months of exploration about 50 kilometeres off the coasts of fuerteventura and lanzarote the company said in a statement it only found small deposits that were not worth drilling thus scrapping the project . 4 change to the company profile edit 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 magazine as the best energy company of the year 5 talisman acquisition edit in december 2014 repsol announced that it would buy canadian oil company talisman energy in a transaction worth about 15.1 billion cdn 13 billion us . 6 company name and origins edit in 1971 repsol logo first appears as repesa refiner a de petr leos de escombreras s.a. brand product during the motorcycle derby of that year . its name derives from the founding company repesa for its visibility and easy pronunciation in different languages . in 1991 the instituto nacional de hidrocarbonos inh before the imminent demise of the state oil monopoly set the objective to create a company of mixed public private capital which exploded state oil assets . when looking for a name a survey at street level was performed and the only two words that people recognized and associate with the world of oil were campsa badge of the former monopoly and repsol ; obviously this last one was chosen to name the new company . a short round sonorous and catchy name was searched . as many terms of the language sink their roots in latin here the first letters of a small company of lubricants repesa were used and the term is completed with the star that identifies spain in the cultures of the north . repsol is one of the few names of companies which does not obey an acronym or joins that obsession of putting together letters of horrific names . and that was the first hit business areas edit upstream edit exploration and production of oil and natural gas are in charge of repsol exploration sa and its many subsidiaries . it is present in several countries as spain norway algeria libya morocco mauritania sierra leone liberia angola united states of america colombia ecuador venezuela brazil peru bolivia russia and so many others . repsol s had an intense exploration campaign throughout these years with a 38 % success rate . the oil and gas exploration and production activity is repsol s main growth driver . repsol has become a world leader in exploration with over 40 finds since 2008 . to guarantee this activity in the long term in 2013 repsol incorporated 65 exploration blocks mainly in the united states 44 blocks and norway 6 blocks into its mining holdings . the 2013 net production reached 346 000 barrels of oil equivalent per day up pm of 4 % compared to 2012 . downstream edit downstream activity involves the supply and trading of crude and products oil refining petroleum product marketing marketing distribution and marketing of liquefied petroleum gas lpg production and marketing of chemicals and the development of new energies . the repsol group owns and operates five refineries in spain cartagena a coru a bilbao puertollano and tarragona with a combined distillation capacity of 896 000 bo d. installed capacity at la pampilla refinery peru in which repsol holds a 51.03 % stake and is the operator is 102 000 bo d. marketing their products is in charge of repsol campsa and petronor brand this through an extensive network of over 6 900 outlets of which over 6 500 are service stations distributed in europe and latin america . repsol is one of the leading retail distributions of lpg bottled and bulk worldwide and is the first in spain and latin america . lpg sales totaled 2 464 mt in 2013 . chemicals edit the chemicals division produces and markets a wide variety of products in over 90 countries and it is one of the leaders of the market on the iberian peninsula . its activities range from basic petrochemicals to derivatives . production is concentrated at three petrochemical complexes located in spain puertollano and tarragona and portugal sines where there is a high level of integration between basic and derivatives as well as with refining activities in the case of the spanish facilities . repsol also has a number of subsidiary and affiliate companies through which the company produces polypropylene compounds chemical specialties and synthetic rubber at special plants . electricity and gas edit repsol has 30 % stake in gas natural fenosa which carry on the activities of gas and electricity distribution . in spain this business includes the compensated gas distribution activity tpa third party network access services and secondary transport as well as non compensated distribution activities . sales from the regulated gas business in spain amounted to 191 189 gwh in 2013 down 2.3 % on the prior year . the distribution business now boasts 455 000 supply points representing an increase of 1.3 % over the previous year . electricity supply points in spain kept steady with 2012 levels at 3 772 000 . electricity effectively supplied decreased 3 % from 2012 to 2013 to 32 766 gwh mainly because of more clement weather conditions . brief chronology edit 1948 incorporation repesa refiner a de petr leos de escombreras s.a. created for the installation of a refinery in the valley of escombreras cartagena spain . 1981 creation of inh public organization created to integrate the various companies operating in the oil and gas in which the spanish state had a controlling interest or was the sole owner . 1987 creation of the repsol group its sole shareholder is the inh . repsol brings together the companies in which the spanish state had a controlling interest in the areas of exploration and production old hispanoil refining formerly enpetrol chemical and liquefied natural gas lng