Repsol, S.A. is a global energy company. The Company is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. The Company's operating segments include Upstream, Downstream and Gas Natural Fenosa. Upstream segment is engaged in exploration and development of crude oil and natural gas reserves. Downstream segment performs refining, trading and transportation of crude oil and oil products, as well as the commercialization of oil, petrochemical products and liquefied petroleum gases and transport and regasification of natural gas and liquefied natural gas (LNG), among others.