The crude oil market is active 24 hours per day, 365 days per year. In order to cover all this activity and based on the number of barrels of crude and refined products traded daily around the world, in the Trading Unit we have a team distributed around four offices in Madrid, Houston, Lima and Singapore. All these offices work in close contact to manage the geographical imbalances that may occur between Exploration & Production and Refining & Marketing.
To comply with the above, among other things, in Trading we do the following activities:
- Supply & Marketing – The activity of supplying crude oil and intermediate products to the Repsol refining system in Spain and Peru, and to the Group’s various clients. Marketing of Repsol’s equity crude oil and refined products in the international market.
- Bunker – Supply of naval fuel from our system to third parties. Marketing naval fuel to the end customers.
- Charters – Ship charter to provide a specific crude oil and petroleum product transportation service, with a given cargo on an agreed date and between an established starting point and destination. Management of long or medium term distance transport, normally by sea. Charter management: supporting supply and marketing activities by third-party contracting of vessels to carry out the activity. Shipping management: long-term charter of vessels for Group activities and for marketing to third parties.
- Trading – Finding business opportunities arising from differences between supply and demand around the globe. Purchase and sale of crude oil and products from and to third parties on physical and financial markets. Utilize our competitive advantage – such as assets or product flows – to generate value.