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Repsol rejig as player unveils new plans



By Upstream staff 

Spain's Repsol YPF has named Miguel Martinez to the new position of chief operating officer and has created a new department to deal with its Latin American unit, YPF.

Repsol said recently that it aims to sell as much as 25% of YPF to an Argentine partner as well as floating a portion of the company on the local stock exchange.

Martinez, who is currently director general of management control and corporate development, will coordinate and control all of the company's business areas, look for synergies and maximise their profit contribution.

Repsol also said it has created a directorate general for its liquefied natural gas business given the growing importance of that segment in Repsol's business.

The new department will join the existing sections for upstream and downstream, as well as various administrative sections.

Martinez will report directly to chairman Antonio Brufau who said in a statement, "This is the ideal organisation to take on the challenges we have before us."


Thursday, 31 May, 2007, 08:23 GMT  | last updated: Thursday, 31 May, 2007, 08:23 GMT

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