Overview:

Summary

This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Spain. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the crude oil assets (oil fields, refineries, pipelines and storage terminals) in Spain. The report compares the investment environment in Spain with other countries in the region. The profiles of the major companies operating in the crude oil sector in Spain together with the latest news and deals are also included in the report.

Scope

- Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 2000-2020.
- Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in Spain for the period 2000-2015.
- Operator and equity details for major crude oil assets in Spain.
- Key information relating to market regulations, key energy assets and the key companies operating in the Spain’s energy industry.
- Information on the top companies in the Spain including business description, strategic analysis, and financial information.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.

Reasons to buy

- Gain a strong understanding of the country’s energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Assess your competitor’s major crude oil assets and their performance.
- Analyze the latest news and financial deals in the oil sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in the country."

Companies Mentioned

Repsol YPF, S.A
Compania Espanola de Petroleos, S.A
Enagas S.A.

1 Table Of Contents 2
1.1 List of Tables 7
1.2 List of Figures 9
2 Spain Energy Sector 10
2.1 Spain Energy Sector, Market Overview 10
2.2 Spain Energy Sector, Crude Oil 11
2.2.1 Spain Crude Oil, Overview 11
2.2.2 Spain Crude Oil, Supply and Demand Balance 11
2.2.3 Spain Crude Oil, Regulatory Structure 17
2.2.4 Spain Crude Oil, Infrastructure 18
3 Spain Oil Upstream Investment Environment Benchmarking 19
3.1 Introduction 19
3.2 The Overall Ranking 19
3.3 Upstream Fiscal Attractiveness 20
3.3.1 Maximum Government Take Index 21
3.3.2 Maximum State Participation 21
3.4 Oil Sector Performance 21
3.4.1 Exploration Activity 24
3.4.2 Oil Production 25
3.4.3 Oil Reserves 25
3.4.4 Oil Consumption 26
3.4.5 Refining Capacity 26
3.5 Economic Performance 26
3.5.1 GDP Growth Index 28
3.5.2 FDI Confidence Index 28
3.5.3 Balance of Trade Index 28
3.6 Socio-Political Performance 28
4 Spain Exploration And Production Sector 31
4.1 Spain Exploration and Production Sector, Country Snapshot 31
4.1.1 Spain Exploration and Production Sector, Key Data 31
4.1.2 Spain Exploration and Production, Crude Oil Assets Map 31
4.2 Spain Exploration and Production Sector, Gross Crude Oil Production 32
4.2.1 Spain Exploration and Production Sector, Total Gross Crude Oil-Historical Production 32
4.2.2 Spain Exploration and Production Sector, Gross Crude Oil-Historical Production by Type 33
4.2.3 Spain Exploration and Production Sector, Gross Crude Oil Production by Assets 34
4.2.4 Spain Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 34
4.2.5 Spain Exploration and Production Sector, Market Share of Key companies Based on Gross Equity Weighted Crude Oil Production 35
4.3 Spain Exploration and Production Sector, Gross Crude Oil Forecasts 36
4.3.1 Spain Exploration and Production Sector, Gross Crude Oil Forecasted Production 36
4.4 Spain Exploration And Production Sector, Crude Oil Asset Details 37
4.4.1 Spain Exploration And Production Sector, Active Crude Oil Asset Details 37
4.5 Spain Exploration and Production Sector, Major Oil Discoveries 37
4.5.1 Spain Exploration And Production Sector, Number of Oil Discoveries, 2005-2010 37
4.5.2 Spain Exploration And Production Sector, Oil Discovery Details 38
4.6 Spain Exploration And Production Sector, Drilling and Production Updates 39
4.6.1 Aug 25, 2010: Leni Gas & Oil Spuds Hontomin Well In Spain 39
4.6.2 Aug 05, 2010: Leni Gas & Oil Announces Spain Hontomin Well Spud Date 39
4.6.3 Aug 04, 2010: Serica Energy Provides Q2 2010 Exploration Update 39
4.6.4 Jan 25, 2010: Leni Gas & Oil Provides December 2009 Production Update 42
5 Spain Pipeline Sector 44
5.1 Spain Pipeline Sector, Key Data 44
5.2 Spain Pipeline Sector, An Overview 44
5.3 Spain Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 44
5.4 Spain Pipeline Sector, Comparison of Key Petroleum Product Pipeline Companies 45
5.5 Spain Pipeline Sector, Crude Oil Pipelines 45
5.6 Spain Pipeline Sector, Petroleum Product Pipelines 46
6 Spain Refining Sector 48
6.1 Spain Refining Sector, Key Data 48
6.2 Spain Refining Sector, An Overview 48
6.2.1 Spain Refining Sector, Total Refining Capacity 48
6.3 Spain Refining Sector, Capacity- Wise Market Share By Company 49
6.4 Spain Refining Sector, Crude Distillation Unit Capacity 51
6.5 Spain Refining Sector, Coking Capacity 52
6.6 Spain Refining Sector, Fluid Catalytic Cracking Capacity 52
6.7 Spain Refining Sector, Hydrocracking Capacity 53
7 Spain Oil and Chemicals Storage Sector 54
7.1 Spain Oil and Chemicals Storage Sector, Key Data 54
7.2 Spain Oil and Chemicals Storage Sector, An Overview 54
7.2.1 Spain Oil and Chemicals Storage Sector, Total Storage Capacity 54
7.2.2 Spain Oil and Chemicals Storage Sector, Storage Capacity by Area 56
7.3 Spain Oil and Chemicals Storage Sector, Market Share By Company 56
7.4 Spain, Oil and Chemicals Storage Sector, Storage Capacity 58
8 Profile of Repsol YPF, S.A 64
8.1 Repsol YPF, S.A, Key Information 64
8.2 Repsol YPF, S.A, Company Overview 64
8.3 Repsol YPF, S.A, Business Description 64
8.3.1 Business Overview 64
8.3.2 Downstream 65
8.3.3 Gas Natural SDG 66
8.3.4 LNG 67
8.3.5 Upstream 67
8.3.6 Upstream 68
8.3.7 YPF 69
8.4 Repsol YPF, S.A, SWOT Analysis 70
8.4.1 Overview 70
8.4.2 Repsol YPF, S.A. Strengths 71
8.4.3 Repsol YPF, S.A. Weaknesses 72
8.4.4 Repsol YPF, S.A. Opportunities 73
8.4.5 Repsol YPF, S.A. Threats 74
9 Profile of Compania Espanola de Petroleos, S.A 75
9.1 Compania Espanola de Petroleos, S.A, Key Information 75
9.2 Compania Espanola de Petroleos, S.A, Company Overview 75
9.3 Compania Espanola de Petroleos, S.A, Business Description 75
9.3.1 Business Overview 75
9.3.2 Exploration and Production 76
9.3.3 Gas and Power 77
9.3.4 Petrochemicals 78
9.3.5 Refining & Marketing 78
9.4 Compania Espanola de Petroleos, S.A, SWOT Analysis 79
9.4.1 Overview 79
9.4.2 Compania Espanola de Petroleos, S.A. Strengths 80
9.4.3 Compania Espanola de Petroleos, S.A. Weaknesses 81
9.4.4 Compania Espanola de Petroleos, S.A. Opportunities 82
9.4.5 Compania Espanola de Petroleos, S.A. Threats 83
10 Profile of Enagas S.A. 84
10.1 Enagas S.A., Key Information 84
10.2 Enagas S.A., Company Overview 84
10.3 Enagas S.A., Business Description 84
10.3.1 Business Overview 84
11 Financial Deals Landscape 86
11.1 Detailed Deal Summary 86
11.1.1 Rumored Deals 86
11.1.2 Acquisition 87
11.1.3 Equity Offerings 93
11.1.4 Debt Offerings 97
11.1.5 Asset Transactions 106
12 Recent Developments 107
12.1 Strategy and Business Expansion 107
12.1.1 Feb 02, 2011: Iberdrola Allocates EUR130 Million To R&D Innovation In 2010 107
12.1.2 Oct 20, 2010: Eni, MIT Announce Two New Key Research Outcomes To Control Clean Up Oil Spills 108
12.2 Other Significant Developments 109
12.2.1 Apr 13, 2011: Leni Gas & Oil Provides Spanish Operations Update 109
12.2.2 Apr 12, 2011: BNK Petroleum Announces Acreage In New Basin 109
12.2.3 Mar 17, 2011: Leni Gas & Oil Provides Operations In Northern Spain And Trinidad 110
12.2.4 Feb 09, 2011: Repsol To Delist ADSs From NYSE 112
12.2.5 Jan 27, 2011: Cairn Energy Provides 2010 Operations Update 112
12.2.6 Dec 27, 2010: EDP Announces Resignation Of Vasco Maria Guimaraes Jose de Mello From General And Supervisory Board 114
12.2.7 Dec 14, 2010: Leni Gas & Oil Provides Operations Update 114
12.2.8 Nov 25, 2010: CLH Puts New Storage Facility In Spain Into Service 115
12.2.9 Nov 23, 2010: Medgaz Gets EUR500 Million Loan From EIB 116
12.2.10 Oct 01, 2010: Leni Gas & Oil Announces EOR Agreement With Praxair 116
12.2.11 Sep 29, 2010: CEPSA Announces Board Changes 117
12.3 New Contracts Announcements 118
12.3.1 Feb 01, 2010: Hyperdynamics Extends Letter Of Intent With Repsol 118
13 Appendix 119
13.1 Abbreviations 119
13.2 Methodology 119
13.2.1 Coverage 119
13.2.2 Secondary Research 120
13.2.3 Primary Research 120
13.2.4 Expert Panel Validation 120
13.3 Contact Us 121
13.4 Disclaimer 121"

1.1 List of Tables
Table 1: Spain, Historical and Forecast Production and Consumption of Crude Oil, Thousand Barrels Per Day, 2000-2020 12
Table 2: Spain, Historical and Forecast Import of Crude Oil, Thousand Barrels Per Day, 2000-2020 14
Table 3: Spain, Historical Reserves of Crude Oil, Million Barrels, 2000-2010 16
Table 4: Western Europe, Investment Benchmarking, Overall Country Rankings, May 2011 19
Table 5: Western Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, May 2011 20
Table 6: Western Europe, Investment Benchmarking, Oil Sector Performance, May 2011 22
Table 7: Western Europe, Investment Benchmarking, Economic Performance, May 2011 26
Table 8: Western Europe, Country Standings, Economic Performance, May 2011 27
Table 9: Western Europe, Investment Benchmarking, Socio-Political Performance, May 2011 29
Table 10: Western Europe, Country Standings, Socio-Political Performance, May 2011 29
Table 11: Spain, Crude Oil Key Statistics, 2010 31
Table 12: Spain, Total Gross Crude Oil Production (MMBBLs), 2003-2010 32
Table 13: Spain, Gross Crude Oil Production by Type (MMBBLs), 2003-2010 33
Table 14: Spain, Gross Crude Oil Production (MMBBLs), by Assets, 2003-2010 34
Table 15: Spain, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company, 2003- 2010 34
Table 16: Spain, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2003-2010 35
Table 17: Spain, Gross Crude Oil Production (MMBBLs), Forecast by Assets, 2011- 2015 36
Table 18: Spain, Active Oil Field Asset Details 37
Table 19: Spain, Number of Oil Discoveries, 2005-2010 37
Table 20: Spain, Oil Discovery Details, 2005-2010 38
Table 21: Spain, Pipeline Key Statistics, May 2011 44
Table 22: Spain, Crude Oil Pipeline Length by Company (Km), May 2011 44
Table 23: Spain, Petroleum Product Pipeline Length by Company (Km), May 2011 45
Table 24: Spain, Crude Oil Pipelines, May 2011 45
Table 25: Spain, Petroleum Product Pipelines, May 2011 46
Table 26: Spain, Petroleum Product Pipelines, May 2011 (Contd.1) 47
Table 27: Spain, Refinery Key Statistics, May 2011 48
Table 28: Spain, Total Refining Capacity (MMTPA), 2000- 2015 48
Table 29: Spain, Refining Capacity by Company (MMTPA), 2000-2015 49
Table 30: Spain, Crude Distillation Unit Capacity (MMTPA), 2000-2015 51
Table 31: Spain, Coking Unit Capacity (MMTPA), 2000-2015 52
Table 32: Spain, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2015 52
Table 33: Spain, Hydrocracking Unit Capacity (MMTPA), 2000-2015 53
Table 34: Spain, Oil and Chemicals Storage Key Statistics, May 2011 54
Table 35: Spain, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2015 54
Table 36: Spain, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2000-2015 56
Table 37: Spain, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015 58
Table 38: Spain, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015  (Contd.1) 59
Table 39: Spain, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015  (Contd.2) 60
Table 40: Spain, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015  (Contd.3) 61
Table 41: Spain, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015  (Contd.4) 62
Table 42: Spain, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015  (Contd.5) 63
Table 43: Repsol YPF, S.A., Key Facts 64
Table 44: Repsol YPF, S.A., SWOT Analysis 70
Table 45: Compania Espanola de Petroleos, S.A., Key Facts 75
Table 46: Compania Espanola de Petroleos, S.A., SWOT Analysis 80
Table 47: Enagas S.A., Key Facts 84
Table 48: Sinopec Plans To Acquire 20% Stake In Repsol From Sacyr Vallehermoso 86
Table 49: Oman Oil Acquires 5% Stake In Enagas 87
Table 50: Ecopetrol Acquires Reficar From Glencore For $549 Million 89
Table 51: Gas Natural Acquires Additional 34.75% Stake In Union Fenosa 90
Table 52: Banco Santander And Union Fenosa Sold 37.5% Stake In Cepsa To International Petroleum Investment 91
Table 53: Gas Natural SDG Completes Rights Offering Of $4,429 Million 93
Table 54: Gold Oil Completes Private Placement Of $0.89 Million 95
Table 55: Gas Natural Completes Offering Of $1.24 Billion Of 4.5% Bonds Due 2020 97
Table 56: Gas Natural Completes Offering Of $1.03 Billion Of 4.125% Bonds Due 2018 98
Table 57: Gas Natural Completes Offering Of $951.9 Million Of 3.375% Bonds Due 2015 99
Table 58: Gas Natural Completes Offering Of $1.11 Billion Of 5.125% Bonds Due 2021 100
Table 59: Gas Natural Completes Offering Of $1.48 Billion Of 4.375% Bonds Due 2016 101
Table 60: Gas Natural Completes Offering Of $740.2 Million Of 3.125% Bonds Due 2012 102
Table 61: Gas Natural Completes Public Offering $2.79 Billion Bonds Due 2014 103
Table 62: Gas Natural Completes Public Offering $697 Million Bonds Due 2019 104
Table 63: Iberdrola Completes Private Placement Of $606.59 Million 105
Table 64: Serica Energy To Farm-Out Its Stake In Pueyo Prospect 106"

1.2 List of Figures
Figure 1: Spain, Energy Consumption Break-Up by Fuel (%), 2010 10
Figure 2: Spain, Crude Oil Production And Consumption, Thousand Barrels Per Day, 2000-2020 13
Figure 3: Spain, Crude Oil Imports, Thousand Barrels Per Day, 2000-2020 15
Figure 4: Spain, Crude Oil Reserves, Million Barrels, 2000-2010 17
Figure 5: Western Europe, Country Standings, Upstream Fiscal Attractiveness, May 2011 21
Figure 6: Western Europe, Country Standings, Oil Sector Performance, by Reserves-Exploration & Production, May 2011 23
Figure 7: Western Europe, Country Standings, Oil Sector Performance, by Production-Consumption & Refining, May 2011 24
Figure 8: Western Europe, Country Standings, Number Of Exploration Blocks Awarded, May 2011 25
Figure 9: Western Europe, Country Standings, Economic Performance, May 2011 27
Figure 10: Western Europe, Country Standings, Socio-Political Performance, May 2011 30
Figure 11: Spain, Crude Oil Assets Map, May 2011 31
Figure 12: Spain, Total Gross Crude Oil Production (MMBBLs), 2003-2010 32
Figure 13: Spain, Gross Crude Oil Production by Type (MMBBLs), 2003-2010 33
Figure 14: Spain, Gross Equity Weighted Crude Oil Production by Key Companies (MMBBLs), 2003-2010 35
Figure 15: Spain, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2010 36
Figure 16: Spain, Number of Oil Discoveries, 2005-2010 38
Figure 17: Spain, Total Refining Capacity (MMTPA), 2000- 2015 49
Figure 18: Spain, Refining Market Share by Company based on Capacity (%), 2010 50
Figure 19: Spain, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2015 55
Figure 20: Spain, Oil and Chemicals Storage Capacity by Area (%), 2010 56
Figure 21: Spain Oil and Chemicals Storage Capacity by Company (Thousand M3), 2000-2015 57