The factors and future scenarios we face make it important for us to act using the skills that differentiate us as a base, which have been developed over our history, in order to strengthen our existing business model and lay the foundations for growth.

OUR STRENGThS

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LEADERShIP POSITION IN ChEMICALS We are global leaders in petrochemicals areas such as LAB and cumene, and the second largest producers of phenol with significant scope for expansion.

FINANCIAL ROBUSTNESS AND STABILITY We prudently manage our balance sheet, debt ratios and liquidity through solid discipline in investment decisions.

ROBUST UPSTREAM ASSET BASE We operate a solid portfolio of long-term upstream assets, with growth prospects, low costs, and price balance.

LEADING COMPANY IN ThE REFINING SECTOR Thanks to almost 90 years of experience, Cepsa has some of the most efficient refineries in Europe, placing them in the top quartile in the Solomon index.

INTEGRATED BUSINESS MODEL We operate a highly integrated business covering the key segments of the oil and gas value chain.

STRATEGIC LONG-TERM FOCUS A 2030 strategy based on international growth across our key businesses, while developing new business lines in response to new industrial trends.

SOLID RETAIL BUSINESS AND COMMERCIAL LEADERS We are leaders in distribution in the Iberian peninsula across our business lines and a high integration with our refineries, maximizing our distribution margins.

PRIORITY PARTNER IN PARTNERShIPS AND JOINT VENTURES We have developed solid relationships with national oil companies in the key countries where we operate, looking after our current interests, and opening the path for future opportunities.

hIGhLY QUALIFIED MANAGEMENT TEAM A management team with a history of solid results, with experience of large scale projects, backed by our shareholder Mubadala.

2017 ANNUAL AND CORPORATE RESPONSIBILITY REPORT