CHAPTER 2 Who we are Refining

Refining

14

Key highlights 2015

Historic distillation record at our two Andalusian refineries: distillation of 20.9 million tonnes of crude oil.

1 Consolidation of the Refining Optimisation Plan (ROP) with increases expected in the refining margin of 1.82 $/barrel in 2017 (21% higher than forecast).

2 50 years of operation La Rábida Refinery.

3

ASESA (50%) Asphalts refinery Production capacity of 690 thousand tonnes a year.

TENERIFE Refinery Production capacity 4.5 million tonnes a year.

GIBRALTAR SAN ROQUE Refinery Production capacity 12 million tonnes a year.

LA RÁBIDA Refinery Production capacity 9.5 million tonnes a year.

2015 2014 2013 Consolidated sales of petroleum products (Millions of metric tonnes) 23.4 25.03 25.8

Revenue excluding excise taxes (Millions of euros) 13,765 18,940 20,325

Adjusted operating profit (Millions of euros) 836 275 88

Capital expenditure in the year (Millions of euros) 281 238 187

Origin of crude received

51%

27%

10% 2%2%

4%

4% Russia

Persian Gulf

Gulf of Guinea

Mediterranean

South America

Gulf of Mexico

Other

Joint refinery production (Millions of tonnes)

LPG 0,9

Kerosenes 1,7

Gasoline 2,6

Fuel Oil 3,3

Others 4,0

Diesels 9,6