ABSTRACT
Compañía Española de Petróleos S.A.U. (Cepsa) is an integrated energy service company that is active along the entire petroleum value chain. Cepsa performs commercial activities in the field of exploration and production of crude petroleum, refinery, petrochemical processes, gas and electricity, and is also present in the distribution and commercialization of all its products. Cepsa has actively participated in the energy service sector since 1929, when it was constituted as the first privately owned petroleum company in Spain. Since then, it has focused on research activities related to production processes, as well as developing innovative products. In August 2011, the International Petroleum Investment Company (IPIC), an investment group established by the Abu Dhabi government in 1984 – which had been a stakeholder for 26 years – completely acquired Cepsa. At present, Cepsa has a worldwide international presence in Europe, America, Africa and Asia, and has over 10,700 employees.
