Repsol is an integrated global energy company with vast sector experience. It carries out Upstream and Downstream activities throughout the entire world. At Repsol we believe in innovation as an engine of change to create a new energy model. That is why we are present in areas of high energy potential such as Brazil, Russia and the U.S. Thanks to a steady, consolidated growth strategy, we have developed new and attractive areas of business within the company.
We are currently the most sustainable oil and gas company in the world, according to the Dow Jones Sustainability Index. Without becoming self-complacent, this Annual Report is full of details that point towards the consolidation of a positive trend in our contribution to sustainable development. We have created national Corporate Responsibility Committees in Spain, Bolivia, Ecuador and Peru, which will be responsible for coordinating and driving all aspects to do with sustainable development in these four countries. As regards safety, we are continuing to make notable improvements, with a lost-time injury frequency rate that is 20% down on last year. In 2011 we have introduced impact assessments for all projects, responding to our philosophy of taking a preventive approach to the potential impacts our activities may have. Meanwhile, at a time when jobs are highly valued, the number people working at Repsol has risen and the percentage of women continues to improve, including in executive positions. Lastly, it is pleasing to note that in 2011 our customer satisfaction index improved in all countries and businesses.
We journey back in time to the most important events that marked the development of the company. Witness our transformation into a global energy business with a commitment to energy supply, and a forward looking approach to innovation and technology for future development.
The company's new vision aligns the team's efforts in one direction and calls upon the entire organisation regarding a common goal, to address the significant challenges facing our industry.
A work philosophy to overcome new energy challenges.
Our vision is:
A global company that seeks the welfare of people and is a step ahead in building a better future through the development of smart energy.
With effort, talent and enthusiasm, we're making progress to deliver the best energy solutions for society and the planet.
In this regard, the new vision underscores our sustainable quest for the best energy solutions, the role of the people who make up the company and our great inner energy, which is what really helps us to progress each day towards attaining our goal.
Our working philosophy is based on seven values:
- TEAM REPSOL. Our team is made up of committed people who share a project for the future whose success is based on proactivity, an innovative attitude, leadership and professional and personal development.
- ENVIRONMENTAL COMMITMENT. Repsol is committed to generating the cleanest energy and to seeking a neutral environmental impact, acting under criteria of maximum safety and reliability in its operations.
- RESPONSIBILITY TO THE SOCIAL ENVIRONMENT. The company responds to the current and future energy needs of society, under the parameters of respect and development of the communities with which it interacts through a proactive attitude and a good neighbour policy.
- TECHNOLOGICAL INNOVATION. Repsol is constantly searching for energy solutions based on eco-efficiency and new energy, through the development of technologies that guarantee a more sustainable future.
- Transparency. This is the main guarantee of Repsol's ethical performance, committed to offering relevant, honest information on the company and maintaining an attitude of dialogue with the different stakeholders.
- TRUSTED PRODUCTS AND SERVICES. The company achieves the trust of society and its customers through innovative products and services that provide differentiating value, supported by the emotional bond to the Repsol brand.
- BUSINESS SOLIDITY. Repsol ensures solid business growth in the medium and long term, based on the integration of businesses and on successful projects through a strategy focused on constantly generating value.