The history of Spain's most popular oil companies

Cepsa: a pioneering company

Its history began in Spain in 1929 with the founding of the country's first private oil company, Compañía Española de Petróleos, S.A.. The following year, the company established the first Spanish refinery in Tenerife and became the first Spanish supplier of marine fuel. At that time, the first agreements were made with distributors in Africa and Portugal.

More than ten years after its foundation, in 1940, Cepsa began its oil exploration and production activities by building Compañía de Investigación y Explotación Petrolífera (CIEPSA), expanding its activities nationally and internationally. A decade later, in 1950, the company innovated again, this time becoming the first Spanish manufacturer of lubricants that carry energy to people.

Starting in the 1960s, the company intensified its expansion around the world, opening Cepsa Portuguesa S.A., its first headquarters outside Spain (1964), establishing a network of commercial offices and subsidiaries in various European countries such as the United Kingdom (1980), cooperating with the Persian Gulf (1988) and the French company Elf Aquitaine (1990), among others.

In 1994, one of Cepsa's most significant "international milestones" occurred, according to the company, the discovery of oil in Algeria, and in 1995 the company intensified its internationalization process by building CEPSA's first industrial chemical plant in Canada, and in 2015 built another plant in Shanghai, one of the markets with the greatest growth potential in the world. In addition, in 2018, the company became the first company to combine electricity, natural gas and fuel services into a single offering with Cepsa Hogar.

Repsol: a brand that grew out of a lubricant

Despite fewer years of existence, Repsol has managed to expand across four continents: Africa, Asia, the Americas and Europe. Although its history dates back to 1927, when it was created as "a mixed company called Campsa, whose purpose was to manage an oil monopoly," the brand we know today didn't come into existence until 1987. In that year, the Instituto Nacional de Hidrocarburo (INH) created Repsol, S.A. as a result of the reorganization of the Spanish energy sector.

The name chosen was the name of the lubricant brand sold by Repesa because it was "well known and easy to pronounce in different languages". The aim of the new company was to become a leading brand with worldwide prestige and recognition. To achieve this, the first step was taken in 1989 with the privatization of the company with the signing of an agreement between INH, Repsol and BBV. The privatization was completed in 1997.

The 1970s saw some of the most significant developments in Repsol's activities, such as the first steps in sports sponsorship. In 1971, racing driver Angel Nieto carried the Repsol brand around the world, winning his first world championship in motorcycling. The company also highlights the 1999 acquisition of the Argentine oil company YPF as one of the key aspects of its "definitive entry into the international market": This synergy resulted in a company with a global reach and a stronger strategic position.

Finally, on January 31, 2013, the company inaugurated its headquarters, the Repsol Campus, "reflecting our values, a new way of working based on communication, collaboration and transparency." Repsol also reaffirms its commitment to the environment by including low-emission electricity and natural gas in its 2018 offer. With this operation, the company is taking a step towards the energy transition, conducting its business in a low-emission, profitable and long-term position and in line with its commitments to fight climate change.