| 07/30/98 |
| REPSOL INITIATES DISTRIBUTION OF BUTANE IN MOROCCO
|
This operation is the first step in
Repsol�s medium term plans to enter the butane gas market in Morocco, which has
grown at a very high rate during the last few years (8% per
year). At present, Repsol continues to hold
conversations with other Moroccan companies which distribute butane in order to
increase the share in this market, in line with the plans for development
foreseen for this activity in the mentioned country. With this acquisition, Repsol�s
presence in butane and propane distribution is already extended to six foreign
countries: Portugal, France, Argentina, Peru, Ecuador and
Morocco. Repsol is the
leading company in the European Union in sales of bottled LPG, filling more than
140 million bottles a year. |