Repsol

2010 Investments

Investments in Downstream totalled €1.613 billion, down 2% compared to €1.649 billion the previous year.

Most of this amount was spent on ongoing refining projects, particularly in Spain, and on upgrading operations, installations and fuel quality, as well as on safety and the environment.

The expansion of the Cartagena refinery and increased conversion at the Petronor refinery (Fuel Oil Reduction Unit) are two of the projects that have received the most investment during the year. The remainder of the investment was mainly allocated to the improvement and optimisation of existing assets. The work to expand the cracker in Tarragona continued in 2010, reaching a capacity of 702,000 metric tons of ethylene per year.

On 25 March 2010, Repsol, Petronor and BBK signed an agreement through which BBK purchased a 5% stake in CLH, which Repsol indirectly owned through Petronor. The selling price was €145 million. Repsol therefore reduced its stake in CLH to 10%.

Related links:

• Annual Report 2010
  

• Repsol, Petronor and BBK reach an agreement on CLH
  
  

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