Repsol YPF

Chemicals

Repsol YPF engages in the production, distribution, and direct marketing of petrochemical products. The company's petrochemical activities are mainly developed in Spain, Argentina, and Portugal: in Spain, at its Tarragona and Puertollano complexes; in Argentina, at the La Plata, Bahía Blanca and Plaza Huincul facilities, and in Portugal, at the Sines complex. Europe and Mercosur countries are the most important markets. Since most of the units are situated in the same industrial complexes as the Repsol YPF refineries, both activities are highly integrated.

The company's base petrochemical production mainly focuses on obtaining olefins and aromatics. In derivatives, the three main petrochemical products are polyolefin, intermediate products, and industrial products.

Investments in 2006 amounted to €222 million, more than the €170 million invested in 2005. The most important investments in the year were: the 33% capacity increase at the company's oxide/styrene monomer plant (PO/SM) plant at Tarragona, which bolsters the company's presence in the PO/SM derivatives market, making it more competitive; the capacity increase at the Sines complex (Portugal) cracker and the highdensity polyethylene (HDPE) plant; and, the construction of a benzene plant, with a capacity of 190 kty that will come on stream in 2007.                                                                                                                    

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