Petrochemicals Company of the Year, 2016: Repsol

Repsol has embarked on a transformation of its chemicals business, with a clearly defined strategy in mind. The company set out to run more efficiently. This was achieved by converting units to run on lighter feedstocks than naphtha, ensuring feedstock flexibility. More than 15 initiatives were implemented to increase plant reliability, rationalise non-profitable production, minimise consumption and maximise the value of production streams. Repsol has also developed 21 new high-value products at its research and production facilities at existing sites in Spain. Externally, the company has established new commercial alliances with partners worldwide to access new markets, ranging from China t