Repsol

Chemicals in the business

The chemical business, part of the Downstream division, involves the production and marketing of a wide range of products from base to derivative petrochemicals.

Production takes place in three petrochemical complexes, located at Sines (Portugal), Puertollano and Tarragona (Spain), where there is a high level of integration between basic and derivative chemicals, as well as with refining activities. 

Repsol also has several subsidiaries and affiliates, through which it has plants dedicated to manufacturing styrene derivatives, proprietary chemicals and synthetic rubber, the latter through Dynasol, a 50% shareholding with the Mexican group KUO, with plants in Spain and Mexico.

Operating profit in the chemicals business, part of the Downstream division, saw a market improvement in 2010 compared to the previous year, with a return to positive values.

This improved situation, both in terms of margins and in the implementation of strong measures to cut costs and optimise and adjust production in plants, reversed the losses of 2008 and 2009, although the business is still in a low cycle.

Sales to third parties ammounted to 2.6 million tonnes, 13.5% more than the 2.3 million tonnes sold in 2009 As an example of efficient integration with refining activity, in June Repsol acquired the company Neste Oil Protugal, owner of the ethyl tert-butyl ether (ETBE) plant located in the Sines complex, with a production capacity of 50,000 tonnes per year.

Synthetic rubber in China

The Repsol affiliate Dynasol is a joint venture resulting from the union between the synthetic rubber businesses of Repsol Química and the Mexican group KUO (previously DESC), which manufactures and markets a wide range of rubbers to meet customers' needs in a wide variety of applications.

In December 2010, Dynasol signed an agreement with the Chinese company Shanxi Northern Xing’an Chemical Industry (Xing’an) to form a joint venture for the manufacturing and marketing of synthetic rubber in China. The construction of this new plant will increase Dynasol's production capacity by 50%, and the company will become a global producer with plants in Europe, America and Asia.

Operating figures (chemicals)

Operating figures (chemicals)

Production capacity

Production capacity

Related links:

•  2010 Annual Report
• Chemical products
• Technology channel                     

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