Repsol has been recognized as the Petrochemical Company of the Year by the prestigious Petroleum Economist magazine. This award is recognition of the strategy of the Company's Chemicals business and the transformation process undertaken in recent years.
The judges panel at the Petroleum Economist Awards highlighted the competitiveness of Repsol’s Chemicals business, its introduction of differentiated products with high added value, and its geographical diversification.
In addition to investments made to increase the flexibility of the raw materials used in its petrochemical plants the panel also took into account the modernization project that Repsol has carried out at its petrochemical facilities, using innovative solutions that allowed the Company to increase its profit margins significantly in 2016.
Increased efficiency, with high availability at its plants, and operational improvements carried out by Repsol in its Chemicals business have strengthened the Company and allowed it to make the most of favorable industry conditions, as well as improve its key figures. Additionally, thanks to increased margins and sales, the Chemicals business significantly increased its profits during the first half of 2016.
This is the third award the Repsol Chemicals business has received in the past year. In June, Repsol also received the award for Best High-Density Polyethylene (HDPE) Producer in Europe 2016 and the Overarching Award on Innovation, which covers all types of polymers. Both awards were presented by the Polymers for Europe Alliance.
Repsol's Chemicals business and all of its other business units work hard to create safer, more efficient, and environmentally sustainable energy systems that respond to the needs of society.
The Petroleum Economist Awards recognize the top industry leaders, companies, and projects. Their panel of judges is made up of experts who represent all aspects of the international energy industry.
Petroleum Economist is one of the most prestigious and longest running publications in the energy sector. It has been providing high-quality macroeconomic and geopolitical analysis on the energy industry for 80 years. Its events are known worldwide for always being attended by the most influential opinion leaders in the sector. It is considered an authority in the energy sector, and is a point of reference among specialized media.