Compania Espanola de Petroleos, S.A. (CEPSA or 'the company') is engaged in petroleum and natural gas activities including exploration and production activities, refining, transport and sale of crude oil derivatives, petrochemicals and electric power generation and sales. The company has its operations in EU countries, the Americas, Africa and Asia.
CEPSA operates through five business segments: exploration and production; refining, distribution and marketing; petrochemicals; gas and power; and trading.
CEPSA's exploration and production segment is dedicated to looking for and extracting oil and gas in onshore and offshore fields. The company has assets in Spain, Algeria, Liberia, Kenya, Malaysia, Thailand, Colombia, Peru, Brazil, Suriname, and recently acquired stakes in four blocks in the UAE. The total oil production for FY20145 accounted for 108,122 barrels of oil per day (bopd). During FY2015, the company distilled a total of 433,699 bopd of crude oil and sold a total of 48,362 bopd of crude oil.
In Algeria, the company develops its activities at two oil fields, Rhourde el Krouf (RKF) and Ourhoud (ORD), located in the Berkine basin, with stakes of 100% and 39.76% respectively. In Colombia, the company operates seven blocks which includes, Caracara (70%), Llanos 22 (55%), Tiple (70%), Garibay (50%), and Puntero; Puntero being the one in which the Onca (100%) and Manatus (70%) all fields are located in the Los Llanos basin and CPR. CPR Espinal (15%) and La Canada Norte (16.7%), both are situated in the Upper Valley of the Magdalena River which are non-operated.
In Spain, CEPSA has an average 7.6% stake in a platform and several offshore fields (non-operated) in the Mediterranean, off the coast of Tarragona (Casablanca, Rodaballo, Boqueron and Montanazo). In Malaysia, the company acquired the assets of the Coastal Energy group, the company's assets became part of CEPSA's portfolio of exploration and production projects. In Thailand, CEPSA operates 100% of the G5/43 block in the Gulf of Thailand, as well as has various onshore gas interests in the northeast of the country, including a 13.7% stake in the Sinphuhorm gas field. In FY2015, the company completed the purchase from Cosmo Oil of 12.8% of the assets of ADOC in Abu Dhabi. The company also acquired a 55% stake in an onshore exploration block in the northeast of Kenya (11A) and a 30% stake in an oil and gas exploration block in Liberia.
The company's refining, distribution and marketing segment is engaged in transforming the crude into raw materials for other industries and finished products such as diesel, gasoline, kerosene, liquefied petroleum gas (LPG) and fuel oil. The marketing unit sells these fuels as well as lubricants and asphalts. During FY2015, the company sold a total of 23.4 million metric tons of petroleum products. CEPSA produces oil products at its three refineries in Spain and also has 50% interest in an asphalt refinery in Tarragona.
The company has 33 fuel posts for fishing boats in Spain. It also has a presence at all Spanish airports with 12 CEPSA facilities: Madrid, Valencia, Andalusia, Canary Island Regions and City of Melilla. The company also has 1,786 service stations, which includes 1,512 service stations in Spain, 254 service stations in Portugal, and 20 service stations in Andorra and Gibraltar. It has 101 distributors, 38 agencies and nine packaging plants for LPG and two lubricant plants in Spain and five asphalt terminals located in Alcala De Henares, Alcudia, Gijon, Tarragona and Valencia.
During FY2015, the company sold a total of 11.7 million tons of motor and other fuels, 2.1 million tons of aviation fuel, 471,000 tons of LPG, 1.1 million tons of asphalts and 240,000 tons of lubricants, base oils and paraffins.
CEPSA's petrochemicals segment manufactures and sells feedstock for the preparation of high value-added products primarily used in making new generation plastics and biodegradable detergents. Its activity is spread among Spain, Canada, Brazil, and China, with established projects in Indonesia. The manufacture of basic petrochemical products is carried out in CEPSA's Gibraltar San Roque and La Rabida refineries, which can produce more than one million metric tons per year of these derivatives. After the distillation of the crude oil, the refineries transformation units obtain feedstock (benzene, toluene and xylene) for other processes, as well as intermediate and finished products such as solvents, propylene and sulfurs. CEPSA distributes and markets these products worldwide. During FY2015, the company sold a total of 3.3 million metric tons of petrochemical products.
CEPSA produces and markets feedstock for the manufacture of detergents and of the polyester industry, as well as cumene, phenol, and acetone from the new chemical plant in Shanghai for the manufacture of resins, high-tech plastics, synthetic fibers, pharmaceutical products. CEPSA also produces feedstock such as linear alkylbenzene (LAB), which is used to make detergents (15% of world capacity,) produces purified isophthalic acid (PIA) and phenol, which is used to make textiles and all types of computers.
CEPSA's chemical unit has three manufacturing plants in Spain, two in Canada, and one in Brazil, which together can produce up to three million metric tons of product per year. In Spain, the manufacturing plants include Palos de la Frontera (Huelva) which has a production capacity of one million metric tons per year of cumene; 600,000 metric tons per year of phenol; and 370,000 metric tons per year of acetone. The Guadarranque plant has a production capacity of 650,000 metric tons per year of purified terephthalic acid (PTA); 220,000 metric tons per year of purified isophthalic acid (PIA); and 175,000 metric tons per year of polyethylene terephthalate (PET). The other plant Puente Mayorga has production capacity of 220,000 metric tons per year of LAB; 80,000 metric tons per year of linear alkylbenzene sulfonic acid (LABSA); 400,000 metric tons per year of n-paraffins and de-aromatized solvents and heavy alkylates.
In Canada, the company has a 51% stake through CEPSA Quimica in two production plants including the Becancour plant which produce 120,000 metric tons per year of LAB and the Montreal plant in Qubec which supplies 600,000 metric tons per year of PTA to the NAFTA market including the US, Canada, and Mexico. In Brazil, CEPSA is the majority shareholder of DETEN Quimica, South America's leading producer of LAB. The Camacari plant in Brazil produces 220,000 metric tons of LAB per year and 120,000 metric tons of LABSA per year.
CEPSA's gas and power segment is engaged in producing electricity in the cogeneration plants and is also engaged in the marketing of electric power for industrial customers and consumers in the service sector. The company is also engaged in the international transport of gas through the MEDGAZ gas pipeline, and the import and supply of gas to the distribution and marketing unit for onward sale. The company has a 50% stake in a combined cycle plant, which is used as the main source of supply for several of the industrial facilities in Spain, the surplus being sold in the market. The company has La Rabida Refinery (RLR) with an installed cogeneration capacity of 82 megawatts (MW), Gepesa Lubrisur with an installed capacity of 192 MW, CEPSA Gas and Power with an installed capacity of 39 MW, a Combined Cycle CEPSA Gas and Power with an installed capacity of 388 MW.
In FY2015, CEPSA sold a total of 2,040.3 gigawatt-hours (GWh) of electric power, 30,083 GWh of natural gas and 4.4 million metric tons of steam.
The trading segment is responsible for the sales of crude oil from the company’s facilities and surplus production from its refineries. It also provides the refining and the distribution areas with raw materials and intermediate products, and, lastly, carries out the sea transport of crude oils and derivative products. Through CEPSA Trading, the company manages price risks on the futures and derivatives markets, and seek to maximize opportunities in highly volatile globalized markets, developing its own trading portfolio.
Scope of the Report
-- About the Company - Historical Details, Current Ownership Structure and basic overview of Compania Espanola de Petroleos S.A. in terms of revenue, net income, and operating income.
-- Financials - Details about Compania Espanola de Petroleos S.A. listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
-- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
-- Company SWOT Analysis - Outlines Compania Espanola de Petroleos S.A. ’s strengths, weaknesses, and opportunities and threats facing the company.
-- Recent Developments - Showcases Compania Espanola de Petroleos S.A. ’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
-- Strategic Evaluation - Provides an overview of Compania Espanola de Petroleos S.A. ’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
-- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
-- What domain does Compania Espanola de Petroleos S.A. operate and what are key points about it?
-- What is the product / service portfolio of Compania Espanola de Petroleos S.A. ?
-- How has Compania Espanola de Petroleos S.A. performed financially from the 2013?
-- How does Compania Espanola de Petroleos S.A. rank among its peers in terms of revenue and market share?
-- What are Compania Espanola de Petroleos S.A. strengths and weaknesses and what opportunities and threats does it face?
-- What are Compania Espanola de Petroleos S.A. ’s main growth strategies and how successful has the company been at implementing them?
-- What is the in-house technical capability of Compania Espanola de Petroleos S.A. ? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
-- 7.1.1 Industry Snapshot
-- 7.1.2 IT Spend
-- 7.1.3 Key Information Technology Trends
-- 7.2.1 IT Overview
-- 7.2.2 Key IT Technologies
-- 7.2.3 Recent IT Initiatives
-- 7.2.4 IT Outsourcing Engagements
-- 7.2.5 Key IT Management
-- 7.2.6 CIO/CTO Profile
-- About Us
-- Contact Us