Oil Ethics

14/06/2006. Antoni Brufau: "Libia es el negocio más rentable de Repsol YPF"

24/01/209. Trípoli. El presidente de Repsol, Antoni Brufau, subrayó hoy que no teme una nacionalización de la actividad de su empresa en Libia, porque las autoridades de este país le han garantizado que no existen planes en este sentido y que las declaraciones de Muamar Gadafi eran sólo "una reflexión".

wikileaks. cable from USA Tripoli embassy. 23/07/2008
Libya's National Oil Corporation (NOC) has signed extensions for a pair of exploration and production sharing agreements (EPSAs) with Spain's Repsol, France's Total, Austria's OMV, and Norway's Saga Petroleum, continuing its policy of redefining old contracts under the new EPSA IV framework. A new EPSA agreement signed on July 17 with a four-company consortium operated by Spain's Repsol covers two blocks, NC115 and NC186, in the Marzuq Basin, and extends the duration of the contracts to 2032.  This represents an additional 15 years for NC-115, and from five to nine years (depending on the specific fields) in block NC-186.  The deal ensures the exploitation of the vast resources discovered in both blocks, whose remaining proven oil reserves at the end of 2007 totaled 765 million barrels .The new contract also includes a $1 billion signature bonus payable by the consortium over three years, and a gross investment requirement in excess of $4 billion, of which 50% will be covered by the NOC, in an effort to reach a steady-state production level of 380,000 barrels of oil per day.

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Ethics is one of the main values of our company culture. The Ethics Regulation guides the day-to-day behaviour of Repsol and its employees everywhere in the world, who in turn are responsible for promoting compliance with its principles by our suppliers and contractors
Since its ratification in 2003, the Ethics and Conduct Regulation (PDF 178 Kb) has guided the conduct of company personnel, regardless of their position or place of employment. These ethical guidelines are obligatory for all company employees and cover the following:
1. Human rights and public freedom
2. Equal opportunities and non-discrimination
3. Use and protection of assets
4. Conflict of interests
5. Gifts, presents and favours
6. Safety and protection of the environment
7. Transparent reporting
8. Reserved and confidential information
9. Customer relations
10. Relations with partners
11. Relations with suppliers and contractors
12. Personal data protection
13. Fair competition and maintaining competition
14. Relations with governments and authorities- legality
15. Measures against bribery and corruption
16. Money laundering and irregularities in payments
17. Financial records
18. Donations and social projects
 
everywhere in the world! ,especially in Lybia: