The refining margin indicator in Spain, one of the highest in Europe
The performance of the Refining area improved again in 2017, recording a significant increase in the amount of crude processed and in the refining margin in Spain and Peru.
Specifically, our refining margin rate in Spain increased by 7.9%, from $6.3 to $6.8 per barrel, one of the highest in Europe. As regards Peru, the annual refining margin index was $5.4 per barrel, compared to $3.1 per barrel in 2016.
|Processed raw material||2016||2017|
|Other non material||9,387||8,565|
|Other (including petrochemicals)(2)||7,574||7,913|
- Includes 50% of the production of ASESA.
- Includes the figure for petrochemical products (1,849 thousan tons in 2017 and 1,976 thousan tons in 2016).
In this context, our refineries processed 47.4 million metric tons of crude oil – 10% more than in 2016. The average use of refining capacity in Spain was 94%, compared to 88% the year before. In Peru, the level of use was higher than in 2016, growing from 68.9% to 89.8% due to the start-up of the new low-sulfur diesel units, which are now working at full capacity.
Last year, Repsol performed maintenance shutdowns in Cartagena, Bilbao and A Coruña. At the beginning of 2018, the Puertollano Industrial Complex performed a programmed stop in the Conversion and Distillation areas, with an investment of €75 million.
These shutdowns, which are aimed at making improvements to innovation, efficiency and productivity, allow the Company to maintain its leadership position in the industry at European level.
The Repsol Group owns and operates five refineries in Spain (Cartagena, A Coruña, Bilbao, Puertollano, and Tarragona) and one in Peru (La Pampilla).
increase in the amount of crude oil processed in our refineries.