Downstream
operating income
| Million euros | |||
|---|---|---|---|
| 2009 | 2010 | 10/09 | |
| Europa | 800 | 1,182 | 48% |
| Rest of the World | 222 | 122 | -45% |
| total | 1,022 | 1,304 | 28% |
Repsol has 4,447 service stations spread throughout Spain, Portugal, Italy and Peru
The Repsol Group Downstream business comprises the supply and trading, refining and marketing of oil and oil products, LPG and chemicals. The information in this section does not include YPF activities. For information on YPF's Downstream activities, please see the section on this company and its affiliates contained in this publication.
Results
Operating income in the Downstream business was €1.304 billion, up 28% in comparison with the €1.022 billion posted in 2009. The key aspects of these results are:
- A recovery in the margins and volumes of the chemicals business.
- A better result for the refining business due to the increase in refining margins for the company.
- The good performance of the marketing business.
- The effect of considering the inventories at the average cost, instead of the current cost of supplies (CCS), was €498 million in 2010, compared to €367 million in 2009, due to the rise in the prices of crude and derivative products.
