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

Consolidated financial data Millions of Euros	2004	2005	2006	2006/2005%
Income from operations	4,686	6,161	5,911	(4.1)
Net income	2,414	3,120	3,124	0.1
EBITDA	7,297	9,139	9,053	(0.9)
Operating revenues	40,292	51,045	55,080	7.9
Investments	3,747	3,713	5,737	54.5
Net debt	5,398	4,513	4,396	(2.5)
Number of employees	32,376	35,239	36,994	4.9

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Exploration & production

Repsol YPFs objective, with regard to its activities in the exploration and production of oil and natural gas, is profitable and diversified growth. The linchpins of this strategy are:

• an increase in production and reserves
• geographical diversification
• operating excellence as a low-cost operator and profitability by increasing average unitary margins.                    

The company's total hydrocarbon production exceeds 1,100,000 barrels of oil equivalent per day.

Refining & marketing

Repsol YPF is the largest refiner of petroleum in Spain and Argentina and also conducts operations in Peru and Brazil.  The company operates nine refineries, with a refining capacity of over 1.2 million barrels per day.
With regard to its marketing activities, Repsol YPF markets its oil products in 12 different countries in Europe and Latin America, through a wide network of over 6,800 sales outlets. Repsol YPF is the leading operator in Argentina and Spain and one of the most important in Peru and Ecuador.
In the LPG (liquefied petroleum gas) business, with yearly sales amounting to over 3 million tonnes, Repsol YPF is the third largest company in the world and one of the most efficient.

Chemicals

Repsol YPFs activities in petrochemicals are mainly carried out in Spain, Argentina and Portugal. The most important markets are Europe and the Mercosur countries.  This business has a high level of integration with refining and the production of natural gas and has its own technology in high added-value products.

Gas & power

Repsol YPF distributes natural gas, either directly or by means of its subsidiary companies, to more than 9 million customers in Spain and Latin America, with more than 4.5 million of them being in Latin America.  The total sales of natural gas reach over 36 bcm.  More than 60% of these sales are generated in Spain.

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
	2004	2005	2006
Spain	17,175	18,212	18,522
Argentina, Brazil, Bolivia (ABB)	11,897	12,696	13,104
Rest of Latin America	2,681	2,866	3,137
Rest of the world	1,584	2,135	2,168
Total	33,337	35,909	36,931

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 companys 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 companys 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.