DISTRIBUTION

The distribution of refined products in Spain is mainly carried out by the Compa��a Log�stica de Hidrocarburos, CLH, S.A., in which Repsol YPF holds a stake of approximately 60%. The company has a network of 3,420 km of pipelines to transport refined products, 9 oil tankers and 197 tanker lorries. In addition, it has 37 storage facilities, the majority connected to the pipeline network, 33 airport facilities and 2 bunkers, with a total capacity of 6.1 million cubic meters.

During 1999, 34.9 million tons of products were transported, and this was almost 5% more than in 1998.

There is no distribution company in Argentina, where each operating company carries out its own. The Repsol YPF network operates a total of 1,801 km of pipeline for the distribution of refined products. Repsol YPF has 15 storage centres, (3 of them annexed to the refineries), an approximate storage capacity of 900,000 cubic metres, 54 airport facilities and 27 own tanker lorries. All the company�s fields are connected to the refineries.