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76-699: The large oil discovery in the Vaca Muerta Formation was made in 2010 by the former Repsol-YPF . The total proven reserves are around 927 million barrels (147.4 × 10 ^  m), and as of 2014 YPF 's production alone was nearly 45,000 barrels per day (7,200 m/d). In February 2012, Repsol YPF SA raised its estimate of oil reserves to 22.5 billion barrels (3.58 × 10 m). The US EIA estimates total recoverable hydrocarbons from this Vaca Muerta Formation to be 16.2 billion barrels (2.58 × 10 m) of oil and 308 trillion cubic feet (8.7 × 10 ^  m) of natural gas, more than even

152-474: A $ 5 billion proposal from Argentina to compensate for the 2012 expropriation. The proposal also would have given Repsol drilling rights to 6.4% of the massive Vaca Muerta shale-gas field. The board of Repsol unanimously rejected this offer, as it would have caused them to drop a $ 10.5 billion lawsuit that was in progress against the Argentine government. Repsol at the time owned 6.4% of YPF. On 25 February 2014,

228-648: A day from over 150 fracked wells using 19 fracking drill rigs. Helmerich & Payne disclosed on March 5, 2014, that it had contracted with YPF to deploy 10 drill rigs under five-year contracts from the United States to Argentina between the third quarter of 2014 and the first quarter of 2015 to work in the Vaca Muerta play in addition to the nine rigs Helmerich & Payne already had in the country. On April 10, 2014, Miguel Gallucio of YPF announced that Chevron had decided to continue its partnership with YPF in

304-464: A day. Chevron and YPF also agreed on a US$ 140,000,000, four-year exploration project to drill and analyze 7 vertical and 2 horizontal wells in a 200 square kilometer area (Narambuena) in the Chihuido de la Sierra Negra concession, to be financed by Chevron with YPF as operator. In an interview with the Argentine newspaper La Nación published September 14, 2014, Gallucio indicated that production in

380-505: A day. In April 2015, YPF signed a memorandum on cooperation with Gazprom, though it had previously denied the report. As of May 2015, more than 30 oil and gas companies were active in Vaca Muerta. In June 2015, YPF announced a new discovery in Vaca Muerta, this time in the La Ribera I block, with an initial output of 43,000 cubic meters (over 1.5 million cubic feet) of gas a day. In November 2015, YPF indicated that production from Vaca Muerta

456-651: A genus of dicraeosaurid dinosaurs named after the formation. The Bajada Colorada Formation, first defined by Roll in 1939, pertains to the Mendoza Group . It overlies the Quintuco and Picún Leufú Formations and is overlain by the Agrio Formation . The contact with the Agrio Formation is discordant and the unconformity has been dated to 134 Ma. The formation is laterally equivalent with

532-655: A joint venture in which Chevron would invest US$ 1.5 billion drilling 132 wells on the Loma Campana field. Chevron's participation was complicated by efforts by the plaintiffs who obtained a judgement in Ecuador with respect to actions by Texaco in the Lago Agrio oil field to collect the judgement from Chevron's Argentine assets. On September 24, 2013, YPF announced that Dow Chemical Company subsidiary Dow Argentina had signed an agreement to drill 16 natural gas wells in

608-535: A mixed carbonate-siliciclastic depositional system. Westward the Vaca Muerta Formation includes slope facies (Huncal Member), and in the Chilean territory pass into shallow marine/volcanic deposits. By contrast, in the southern Mendoza area the Lower Mendoza Mesosequence consists of aggradational and divergent sequences, with a maximum thickness of 500 metres (1,600 ft) towards the center of

684-546: A monumental moment in Spanish exploration on the Iberian Peninsula. The year 1947, marked the end of a 20-year contract between the Spanish state and CAMPSA, decentralizing services while at the same time giving specific rights to the state to intervene in the company's affairs, minus distribution and commercialization, which remained exclusive to CAMPSA. In 1948, REPESA (Refinería de Petróleos de Escombreras S.A.)

760-422: A shale, and with a total organic carbon content varying from 1 percent to 5 percent, the Vaca Muerta is predominately marl and consists of mature black shales , marls and lime mudstones . Formed in a marine environment with little clay and brittle rock, the deposit is 30 to 1,200 metres (98 to 3,937 ft) (usually over 400 metres (1,300 ft)) thick, extending throughout the basin. At the time of deposition,

836-483: A total of 19 wells by December 2015; Dow and YPF agreed to invest another US$ 500 million in 2016 on top of the US$ 350 million already invested, and drill 30 more wells in order to triple that output. In January 2016, Aubrey McClendon 's American Energy Partners, LP , and YPF announced a preliminary agreement for the development of two more blocks, at a cost of over US$ 500 million in the next three years: Bajada de Añelo and

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912-620: A transaction worth about $ 15.1 billion Cdn ($ 13 billion US). In 1971, the Repsol logo first appeared, as REPESA (Refinería de Petróleos de Escombreras S.A.) brand product, in the Motorcycling World Championship of that year. Its name derives from the founding company REPESA for its visibility and easy pronunciation in different languages. In 1991, the Instituto Nacional de Hidrocarburos (INH), before

988-406: Is a high level of integration between basic and derivatives, as well as with refining activities in the case of the Spanish facilities. Repsol also has a number of subsidiary and affiliate companies through which the company produces polyolefin compounds, chemical specialties, and synthetic rubber at special plants. The main function of Trading is to optimize the supply and deliver to market of

1064-485: Is a major player in the generation of electricity in Spain. As of 31 December 2021, the total installed capacity in operation of low-carbon and renewables reaches 3,738 MW. This includes 693 MW in hydroelectric and pumping plants, 1,625 MW in combined cycle plants , 600 MW in cogeneration plants , 430 MW in wind and 390 MW in solar photovoltaic. In May 2012, the Argentine president Cristina Fernández de Kirchner , proposed

1140-554: Is one of the leading retail distributions of LPG, bottled and bulk, worldwide and is the first in Spain and Latin America. The Chemicals division produces and markets a wide variety of products in over 90 countries, and it is one of the leaders of the market on the Iberian Peninsula. Its activities range from basic petrochemicals to derivatives. Production is concentrated at three petrochemical complexes located in Spain ( Puertollano and Tarragona ) and Portugal ( Sines ), where there

1216-408: Is present in several countries, such as Spain, United States , Canada, Brazil, Bolivia, Colombia , Peru , Venezuela, Trinidad and Tobago, Norway , United Kingdom , Algeria , Libya, Indonesia and others. The oil and gas exploration and production activity is Repsol's main growth driver. Repsol has become a world leader in exploration, with over 40 finds since 2008. To guarantee this activity in

1292-734: The Alaska North Slope by drilling a discovery well into the Nanushuk Formation , a well they called Qugruk 3. In May 2024 Repsol and Santos Limited subsidiary Oil Search were looking to sell 20-25% of their non-operating interest in the Pikka unit, to raise funds, one month after they had asked the Alaska Oil and Gas Conservation Commission for a permit to hydraulic fracking . In December 2014, Repsol announced that it would buy Canadian oil company Talisman Energy in

1368-726: The Ancón Reserved Zone, home to hundreds of endemic marine species. The spill has been called by the Peruvian Foreign Ministry "the worst ecological disaster that has happened in Lima". The Peruvian Minister for the Environment has estimated that the penalties imposed on Repsol could go as high as USD 33.4 million, aside from the reparations to the local population. Before the Government inspected

1444-734: The Bajada Colorada Formation of Tithonian – Berriasian age. In the central part of the Neuquén Basin, also known as Neuquén embayment, the Lower Mendoza Mesosequence consists of basinal deposits of the Vaca Muerta Formation (early to upper Tithonian), which to the east change to shoreface deposits of the Quintuco Formation (upper Tithonian – lower Valanginian), and to sabkha deposits of the Loma Montosa Formation (lower Valanginian), forming

1520-600: The Canary Islands . In January 2015, after two months of exploration about 50 kilometers off the coasts of Fuerteventura and Lanzarote , the company said in a statement it only found small deposits that were not worth drilling thus scrapping the project. In 2013, Repsol and Armstrong Energy, a privately held oil and gas exploration and production company in New Mexico, discovered the Pikka field 83km west of Deadhorse, Alaska and about 10km away from Nuiqsut on

1596-646: The Mitsubishi Ralliart factory program at the Dakar Rally until 2009. Bajada Colorada Formation The Bajada Colorada Formation is a geologic formation of the southern Neuquén Province in the Neuquén Basin of northern Patagonia , Argentina . The formation belongs to the Mendoza Group and is Late Berriasian to Early Valanginian in age. The formation is renowned for preserving fossil remains of Bajadasaurus pronuspinax ,

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1672-550: The Mulichinco Formation . The formation comprises red and greenish-brown, fine to coarse grained conglomerates and thick-bedded sandstones with well-developed bands of light brown siltstones and reddish, pinkish grey and purple-reddish claystones . The formation was deposited in a fluvial environment , and the paleoenviroment resembled a braided river system with well-preserved channels and paleosols . X-ray diffraction studies of sediments belonging to

1748-647: The "massive development" of Vaca Muerta; the US$ 1.24 billion pilot program financed by Chevron and ended in March had developed 161 fracked wells in a 20 square kilometer area. The new phase would frack 170 additional wells that year with a joint investment of over US$ 1.6 billion, with YPF continuing as operator. The goal agreed upon for future years would be to develop an area of 395 square kilometers with over 1500 fracked wells producing over 50,000 barrels of oil and 3 million cubic meters (over 100 million cubic feet) of natural gas

1824-757: The 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In 2021, Repsol was ranked no. 9 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle. Repsol's La Pampilla refinery in Peru was involved in an estimated 6,000-barrel spill off the coast of Lima , on 15 January 2022. Over 18,000 square kilometres of coastline have been affected, including

1900-744: The Aguada Federal block. Apache Corporation was active in the Vaca Muerta in 2012–2013, but agreed to sell all its Argentine assets to YPF for US$ 800 million in an agreement signed February 12, 2014. The Bandurria block was formerly a joint venture of Pan American Energy , YPF, and Wintershall; it has now been split into three blocks, with Wintershall as operator of Bandurria Norte, Pan American Energy as operator of Bandurria Centro, and YPF as operator of Bandurria Sur. YPF indicated in July 2015 that it planned to drill 20 wells in Bandurria Sur with

1976-537: The Argentine oil and gas company YPF S.A. , which at the time was the largest oil-and-gas company in Ibero America. The acquisition better positioned Repsol as a multinational company. Repsol's acquisition of YPF also increased its capital to 288 million shares worldwide. Repsol's presence in Latin America was one of the keys to corporate growth. It was the first full year after the acquisition of YPF and

2052-477: The El Orejano block of the Vaca Muerta formation over a 12-month period, with Dow contributing US$ 120,000,000 and YPF US$ 68,000,000. Shell Argentina CEO Juan Jose Aranguren was quoted on December 10, 2013, as saying his company, with 4 producing wells in Vaca Muerta and 2 more drilling, would increase capital spending in Argentine shale to "about" US$ 500 million in 2014 from US$ 170 million in 2013. Luis Sapag, of

2128-471: The Government of the actual amount of spill stating that, since it happened during the night of the 15th, Repsol was unable to correctly estimate how much crude was spilled, and had to wait until the following morning to accurately analyse the situation. She also declined to say who would be responsible for the spill. The spill comes as the latest development in the botched response to the 2022 Hunga Tonga–Hunga Ha'apai eruption and tsunami in Peru, where, due to

2204-488: The Group’s positions in international markets for crude oil and petroleum products (integrated supply chain ). Its activity consists of: The Company’s activity in this area focuses on optimizing the margin from the marketing and sale of regasified LNG and natural gas . The optimization of the gas and LNG portfolio has been carried out through swap operations with third parties, along with logistic optimizations and trading in

2280-603: The Loma Campana field had reached 31,000 barrels of oil equivalent a day. On October 8, 2014, Argentine Industry Minister Débora Georgi reported that YPF had signed a confidential agreement in principle with Gazprom that could lead to a US$ 1 billion investment in gas exploration and production "in Argentina". In January 2015 YPF and Sinopec signed a memorandum of understanding for future cooperation in both conventional and unconventional petroleum development; they indicated that Sinopec Argentina Exploration and Production S.A.

2356-523: The Malaysian state oil company PETRONAS signed an agreement on August 28, 2014, whereby PETRONAS would receive a 50% interest together with YPF in return for contributing US$ 475 million as part of a three-year, US$ 550 million, pilot project of development in the Amarga Chica block, with YPF as operator. In November 2016 YPF and PETRONAS announced that they had spent US$ 165 million drilling 9 wells in

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2432-529: The Neuquén Basin's hydrocarbon-rich Middle Jurassic Los Molles Formation holds. One problem in attracting development was Argentina's price controls on natural gas, keeping the price down to US$ 2.00-$ 2.50 per million BTU . However, the government exempted tight gas from controls, and in 2011 the Vaca Muerta gas was selling for US$ 4–$ 7. The higher gas prices attracted major oil companies, including ExxonMobil , Total S.A. , and Chevron Corporation to Vaca Muerta. In May 2013, YPF announced that it had negotiated

2508-551: The Neuquén Basin's hydrocarbon-rich Middle Jurassic Los Molles Formation holds. As of 2017, there were almost 500 fracking wells, one of the most fracked sites outside North America. In July 2013, protests were heavily repressed by the police. The huge water consumption of fracking as well as the sand mines interfere with agriculture. In 2018, the Mapuche sued Exxon , French company TotalEnergies and Pan American Energy for "dangerous waste" due to "deficient treatment" close to

2584-487: The Neuquén area in Argentina." On February 18 of the same year, YPF announced that it had signed an memorandum of understanding with PETRONAS , the Malaysian state oil company, on a possible investment (agreed upon in the following August; see below) in the 187 square kilometer Amarga Chica zone of the Vaca Muerta formation; YPF also indicated that its current production in Vaca Muerta was over 20,000 barrels of oil equivalent

2660-531: The Repsol board announced it had accepted a settlement offer from the Argentine government of an issue of Argentine bonds valued at $ 5 billion. The deal concluded after three months of negotiations in Buenos Aires was subject to shareholder approval. The agreement ended two years of legal wrangling and the potential for a long drawn-out legal battle. Repsol Chairman Antonio Brufau described the "friendly" settlement as "extremely positive." In 2011 Repsol built

2736-716: The Repsol-YPF executive Tomas Garcia Blanco sponsored the search for "unconventional" shale gas by: 1) Configuring a team of explorationists under the leadership of Mikel Erquiaga with German Bottessi heading the team searching for gas. M di Benedetto was added to the team once the oil potential was fully identified. 2) Assigning budget and resources to that team. 3) Appointing a Welshman (R Ll Lolley) as engineering advisor. This team screened all Argentine source rock formations and proposed Vaca Muerta as principal objective given that logistics were easier and it held greater potential. Target well locatíons were selected in most of

2812-479: The Rincon de Aranda concession. The Los Toldos blocks are developed by the consortium of Americas Petrogas (45%, operator of the blocks), ExxonMobil (45%) and Gas y Petroleo del Neuquén (10%). Consortium of Shell (65%, operator) Medanito (25%) and Gas y Petroleo del Neuquén (10%) develops Águila Mora and Sierras Blancas areas. Consortium of Wintershall (50%, operator) and Gas y Petroleo del Neuquén (50%) develops

2888-708: The Sapag family which has dominated Neuquén politics for half a century, was reported by Bloomberg in December 2013 as saying that the YPF-Chevron joint venture would invest as much as US$ 16 billion if the US$ 1.2 billion pilot venture was successful by March 2014, which would generate almost US$ 9 billion in royalties for Neuquén. In February 2014, Archer Ltd. announced it had an "approximately US$ 400 million" contract with YPF to provide "five new built drilling rigs to support YPF's development of unconventional shale resources in

2964-479: The Vaca Muerta Formation has been the site of paleontological finds: the crocodylomorph Cricosaurus and possibly Geosaurus , the ichthyosaur Caypullisaurus , and the pterosaurs Herbstosaurus and Wenupteryx . The Vaca Muerta Formation represents the most distal facies of the Lower Mendoza Mesosequence , a Tithonian–Valanginian broad shallowing-upward sedimentary cycle. In

3040-588: The Vaca Muerta Shale of the Neuquén Basin, and completed Argentina's first shale gas well at the Loma La Lata field. In November 2010, the company completed a tight oil well in the Vaca Muerta Shale in the Loma Campana area. In August 2011, the first horizontal well in the Vaca Muerta was drilled and completed. By October 2012, 31 wells had been drilled and completed, and another 20 had been drilled and were awaiting completion. The drilling had extended

3116-641: The Vaca Muerta producing extent to an area of at least 300 square kilometres (120 sq mi). As of 2011, the total proven reserves were around 927 million barrels (147.4 × 10 ^  m), and as of 2014 YPF 's production alone was nearly 45,000 barrels per day (7,200 m/d). In February 2012, Repsol YPF SA raised its estimate of oil reserves to 22.5 billion barrels (3.58 × 10 m). The US EIA estimates total recoverable hydrocarbons from this Vaca Muerta Formation to be 16.2 billion barrels (2.58 × 10 m) of oil and 308 trillion cubic feet (8.7 × 10 ^  m) of natural gas, more than even

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3192-641: The Vaca Muerta was situated on the eastern margin of the Pacific Ocean. Although the name Vaca Muerta Formation was introduced to the geological literature in 1931 by American geologist Charles E. Weaver, the highly bituminous shales in the Salado River valley in southern Mendoza were described in 1892 by Dr. Guillermo Bodenbender. German paleontologists Beherendsen and Steuer determined the Tithonian age of these shales. In several outcrop locations,

3268-539: The absence of any formal warnings by the Peruvian Navy 's Hydrography and Navigation Directorate, two people died. Repsol has claimed that the Navy's refusal to inform the public of the incoming waves and tsunami allowed them to continue with the unloading of crude oil, which lead to the spill. On August 23, 2022, a judge in Peru admitted a lawsuit by Peru's Consumer Protection Agency, Indecopi , against Repsol, i.e.

3344-481: The basin. It includes basinal to middle carbonate ramp deposits of the Vaca Muerta Formation (early Tithonian – early Valanginian) and middle to inner ramp oyster-deposits of the Chachao Formation (early Valanginian), which form an homoclinal carbonate ramp system. Westward, undated tidal to continental mixed deposits have been recognized and correlated with the Vaca Muerta and Chachao Formations , receiving

3420-734: The case will be dealt with in court. The case would consist of a civil lawsuit seeking $ 3bn for environmental damage and $ 1.5bn for damages to locals, like fishermen. Repsol has been a longtime sponsor of motorsport. It partners with Honda Racing Corporation to compete in MotoGP under Repsol Honda Team since 1995, winning titles with legendary riders such as Mick Doohan , Àlex Crivillé , Valentino Rossi , Nicky Hayden , Casey Stoner , and Marc Márquez . Previously, it supported two-time world rally champion Carlos Sainz until 1997, Formula One teams Jordan Grand Prix in 1998, Arrows Grand Prix in 1999–2000 and Scuderia Toro Rosso from 2018, and

3496-492: The company to change its profile. Using cutting edge technology, the company made over 30 hydrocarbon discoveries, many of which were considered to be among the largest in the world. In 2009, Petroleum Economist magazine called it the "Best energy company of the year". Following years of opposition from environmentalist groups, Spain finally gave permission in August 2014, for the company and its partners to explore prospects off

3572-517: The consolidation of Gas Natural SDG by global integration. The company's business structure was more balanced and international. Then in December 2001, Repsol completed an asset exchange agreement with Petrobras , making it the second largest consolidated oil company in Brazil . The same year Repsol announced new discoveries in Libya , Indonesia , Spain, Venezuela , Argentina , and Bolivia , prompting

3648-440: The continued development of gas in Vaca Muerta. As of 2017, there were almost 500 fracking wells, one of the most fracked sites outside North America. As of 2013 Vaca Muerta was divided into different development blocks. Consortium of YPF (50%) and Chevron (50%) develops General Enrique Mosconi concession, including Loma La Lata Norte and Loma Campana fields. Consortium of Petrobras (55%, operator) and Total S.A. (45%) develops

3724-561: The development and marketing of its electricity business through Gas Natural SDG. In 2003, Repsol tripled its reserves and production of hydrocarbons in Trinidad and Tobago . North American expansion in 2008, saw Repsol open a massive regasification plant on the east coast of Canada with enough capacity to supply up to 20% of the gas demand for New York and New England . In 2008, Repsol began an intensive exploration campaign and invested in exploring in new areas, with results that enabled

3800-594: The exploration and production leases. A policy of systematically testing the wells after they had been stimulated was adopted with wells in the Loma La Lata/ Loma Campana area being tied into existing production facilities. These policies accelerated the collection of quality data needed for the certificación of resource and reserve estimates. By March 2012 significant data was available from over 25 stimulated wells. The D-129 source rock had also started to be explored had tested positive. As part of

3876-497: The expropriation of 51% of Repsol's shares in YPF. The Republic of Argentina's Yacimientos Petrolíferos Fiscales Act that was passed that summer made officially possible the expropriation of Repsol's shares. Repsol went to various international bodies to pursue legal action directly after losing its shares of YPF. The expropriation was an attempt by the Argentine government to nationalize its oil and gas production. Results however show that

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3952-549: The gas system. It provides marketing and sales of oil and other products at service stations and directly (Direct Sales). On December 31, 2021, Repsol had 4,689 service stations in Spain, Portugal, Mexico, and Peru. Production and sale of lubricants , bases for lubricants, bitumen , jet fuel , extender oils , sulfur, paraffins , and propellant gases . In Spain and Portugal, Repsol distributes bottled Liquefied Petroleum Gas (LPG), bulk LPG, and AutoGas. In Peru, it supplies AutoGas. Repsol provides electricity and gas in

4028-512: The goal of beginning shale oil production within three years at a cost of US$ 282.2 million. ExxonMobil is the operator of the Bajo del Choique and La Invernada blocks and has an 85% working interest in them, with Gas y Petroleo del Neuquén holding the remaining 15%; they announced their first discovery on the former block in May 2014, and their first discovery on the latter in the following December. YPF and

4104-452: The imminent demise of the state oil monopoly, set the goal to create a company of mixed public-private capital, which exploited state oil assets. When looking for a name a survey at street level was performed and the only two words that people recognized and associate with the world of oil were CAMPSA (badge of the former monopoly) and REPSOL; obviously, this last one was chosen to name the new company. "A short, round, sonorous and catchy name

4180-474: The indigenous lands of the Peruvian Amazon display a disregard for the environment. According to an Environmental Impact Assessment , Repsol's exploration of the rainforest will involve drilling at least 21 wells. Although Repsol denies it, 20 of the 21 wells fall within the land of indigenous people, who are very vulnerable to any sort of contact with foreigners. In 2016, Repsol ranked as being among

4256-406: The initial phase of Amarga Chica development, and that they had agreed to move to a second stage where they would spend another US$ 192.5 million on drilling 10 horizontal wells and constructing surface facilities. The El Orejano block, which (as mentioned above) YPF and Dow Argentina agreed to develop in 2013, was producing 750,000 cubic meters of shale gas (nearly 26 1/2 million cubic feet) daily from

4332-408: The long term, in 2013, Repsol incorporated 65 exploration blocks, mainly in the United States (44 blocks) and Norway (6 blocks), into its mining holdings. Production was doubled as a result of the acquisition of Talisman Energy in 2015. As of January 2022, Repsol produces an average of 572,000 barrels of oil per day, and it has proven reserves of 1.9 billion barrels. Industrial activity involves

4408-508: The move to nationalize actually hurt oil production in Argentina. Compared to the oil production in 2011, YPF's oil production in 2012 fell by 8%, according to data from Argentina's Department of Energy. Repsol had the backing of the EU and the US, and both powers condemned Argentina's move as expropriation. President Fernández claimed that the state would seize 51% of YPF. In June 2013, Repsol rejected

4484-474: The name of Lindero de Piedra Formation . The Vaca Muerta Shale had long been known as a major petroleum source rock for other formations in the Neuquén Basin , which has had oil production since 1918. Wells producing from the Vaca Muerta itself are in several oil fields , including the Loma La Lata, Loma Lata Norte, and Loma Campana fields. Given the natural decline in gas production and dimininishing returns from conventional exploration activity, in 2008

4560-490: The oil exploitation since 2011 has been deposited close to the town of Añelo , which is about 1,200km west of Buenos Aires. The Vaca Muerta Shale is a continuous tight oil and shale gas reservoir of Late Jurassic ( Tithonian ) and Early Cretaceous ( Berriasian ) age. The formation covers a total area of 30,000 square kilometres (12,000 sq mi). The shale is at a depth of about 9,500 feet (2,900 m), where it has been found productive of oil and gas. Although called

4636-606: The ratification of the YPF-Chevron US$ 16 billion agreement to exploit the Loma Campana concession were heavily repressed by the police. Each oil well demands 640 water trucks, the equivalent of nine Olympic-size pools, over the lifetime of the well. Other environmental externalities include the clash of sand mines with agriculture in the town of Dolavon , Chubut province. In 2018, the Mapuche were suing Exxon, French company TotalEnergies and Pan American Energy for "dangerous waste" due to "deficient treatment" close to

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4712-553: The retail sector (residential and businesses) with a base of more than 1.3 million customers throughout all of Spain. In 2021, Repsol secured the highest level of assurance —the A label— for the second straight year, for its environmentally friendly sourcing of electricity, according to the Comisión Nacional de los Mercados y la Competencia . Repsol is the only major retail marketer in Spain, in terms of customers supplied, that guarantees 100% renewable electricity. Repsol

4788-483: The southern part of the Neuquén Basin the Lower Mendoza Mesosequence includes the basinal deposits of the Vaca Muerta Formation (early to middle Tithonian), which to the south-southeast change to mixed carbonate-siliciclastic nearshore deposits of the Carrin Cura Formation (lower part of the middle Tithonian) and Picún Leufú Formation (middle Tithonian – lower Berriasian), and to continental deposits of

4864-737: The southern zone of Cerro Arena, the latter together with Pluspetrol and Gas y Petróleo del Neuquén; an affiliate of American Energy Partners would acquire up to a 50% participation in both. Also Madalena Ventures, Azabache, and Tecpetrol participate in exploration and production. As of April 2022, the following banks financed operations in Vaca Muerta: Citi Bank, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, ING, Industrial and Commercial Bank of China (ICBC) and Morgan Stanley. Both IBD and World Bank have funded massive urban planning projects in Añelo city. In July 2013, protests against

4940-528: The spill, Repsol falsely stated that the spill involved only "seven gallons". A Repsol spokeswoman stated to the Peruvian press that Repsol wasn't responsible for the spill: "we didn't cause the ecological disaster, we were unloading crude oil since the previous day. We called the Peruvian Navy, we asked them to confirm the alert on the coasts of Peru". The spokeswoman explained the mistake in informing

5016-821: The supply and trading of crude and products, oil refining, petroleum product marketing, distribution and marketing of Liquefied Petroleum Gas (LPG), production and marketing of chemicals and the development of new energies. The Repsol Group owns and operates five refineries in Spain ( Cartagena , A Coruña , Bilbao , Puertollano and Tarragona ), and one in Peru. The combined refining capacity exceeds one million barrels per day. In addition to products derived from oil and gas, Repsol also produces aviation biofuel from waste and biomass . The brands Repsol, CAMPSA, and Petronor market their products through an extensive network of over 6,900 outlets, of which over 6,500 are service stations, distributed in Europe and Latin America. Repsol

5092-469: The town of Añelo as oily sludge residue from fracking was tipped in illegal waste dumps. Repsol-YPF Repsol S.A. ( Spanish pronunciation: [reβˈsol] ) is a Spanish multinational energy and petrochemical company based in Madrid . It is engaged in worldwide upstream and downstream activities. In the 2022 Forbes Global 2000 , Repsol was ranked as the 320th-largest public company in

5168-411: The town of Añelo as oily sludge residue from fracking was tipped in illegal waste dumps. The formation is also known for its fossils, such as those of marine reptiles. The Vaca Muerta Formation, commonly known as Vaca Muerta ( Spanish for Dead Cow ), is a geologic formation of Late Jurassic to Early Cretaceous age, located in the Neuquén Basin in northern Patagonia , Argentina . Waste from

5244-399: The visualization the logistics required to develop the assets were investigated with the need for importation of drilling rigs and fracturing equipment being identified together with an opportunity for ín-country proppant sand production. The critical path was however identified as being the availability of heavy motor mechanics. In July 2010 Repsol-YPF recognized the productive potential of

5320-423: The world's first service station certified by BREEAM , "the leading international method for evaluating and certifying building sustainability". The construction of the station was completed under green architecture parameters, utilizing multiple recycled materials. The publication Newsweek selected Repsol as the most environmentally respectful energy company of 2012. However, recent reports of Repsol drilling in

5396-543: The world. As of 2022, it has 24,000 employees worldwide. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production , refining , distribution and marketing , petrochemicals , power generation and trading . The business strategy also includes hydraulic fracking on the Alaska North Slope . As of 2021 Repsol had a renewable energy division. In 1927, CAMPSA (Compañía Arrendataria del Monopolio de Petróleos S.A.), headed by Miguel Primo de Rivera y Orbaneja,

5472-410: Was 54,000 barrels of oil equivalent daily, with 47,000 from Loma Campana; it also indicated that Chevron had invested US$ 2,500,000,000 over the last two years. YPF showed production for the third quarter of 2016 at 58,200 barrels of oil equivalent daily from 522 wells, with 11 rigs working. In September 2016, after the change of government in Argentina, YPF said that proposed new rates for gas would permit

5548-468: Was already doing due diligence on exploration and development in "certain areas" of Vaca Muerta together with YPF. In January 2015 YPF indicated that it and Chevron had invested over US$ 3 billion in their Loma Campana venture, which YPF described as the most important unconventional (oil) project in the world outside the United States. In April 2015, Gallucio stated that production in the Loma Campana field had reached 44,000-45,000 barrels of oil equivalent

5624-557: Was created with the objective of administering concessions in handing over the state monopoly of petroleum companies. Originally the company was arranged so that the state would have a minority stake. The Creation of CAMPSA intensified the progress of the Spanish refinery industry. In 1941, the Spanish government under Francisco Franco created the INI (National Industry Institute), in order to finance and promote Spanish industries. The INI supported CAMPSA in its exploration of Tudanca, Cantabria,

5700-476: Was incorporated for the installation of a refinery in the Valley of Escombreras ( Cartagena ). REPESA became the symbol of the increasing industrial consolidation in the refining sector, as it took on the production and marketing of petrol, oils and lubricants under its own brand name.' From the beginning, REPSOL was REPESA's "star brand" of petroleum as a REPESA product brand. In 1999, Repsol bought 97.81% of

5776-584: Was searched. As many terms of the language sink their roots in Latin, here the first letters of a small company of lubricants (Repesa) were used, and the term is completed with the star that identifies Spain in the cultures of the north. Repsol is one of the few names of companies that do not obey an acronym or joins that obsession of putting together letters of horrific names. And that was the first hit". Exploration and production of oil and natural gas are in charge of Repsol Exploration SA and its many subsidiaries. It

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