The company presented the 2012-2016 strategic plan
Repsol Shareholders Meeting approves the 2011 earnings
Press Release31/05/2012 00:00
The shareholders approved a new payment system for shareholders which will allow them to choose between cash or paid-up shares, in line with similar initiatives of other IBEX 35 companies.
Repsol posted earnings of 2.193 billion euros in 2011 and achieved all of its strategic goals during the year, reaching a record reserve replacement rate as well as the start of operations at its expanded Cartagena and Bilbao refineries.
Executive Chairman Antonio Brufau presented to shareholders the new 2012-2016 strategic plan, which envisages an ambitious 19 billion-euro investment program based on four pillars: High growth in upstream, maximising return in the downstream and LNG businesses, financial solidity and competitive remuneration to shareholders.
The Chairman unveiled the new organisational structure, reinforced with a Chief Operating Officer and a Director General for Strategy and Control to boost the development of the 2012-2016 strategic plan, focusing on the future vision and the growth of the business units.
The shareholders voted to change the name of the company, which is now Repsol S.A.