Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 400,000,000
Countries
Sector(s)
Spain : € 400,000,000
Industry : € 400,000,000
Signature date(s)
10/03/2010 : € 100,000,000
23/07/2009 : € 300,000,000
Link to source

Summary sheet

Release date
6 February 2009
Status
Reference
Signed | 23/07/2009
20080149
Project name
Promoter - financial intermediary
Repsol IX – Petronor URF

Repsol YPF

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to 50% of project cost.
Approximately EUR 780 million.
Location
Sector(s)
Description
Objectives

Construction and operation of a delayed coker unit with a capacity of 2 Mt/a in the existing Petronor refinery at Bilbao. The project will convert low-value heavy fuel oils into higher value and low sulphur containing petrochemical feedstocks and diesel.

The increased production of cleaner transport fuels at the expense of more polluting heavy oil products is in line with European policy and directives to improve fuel specifications, and leading to reduced tailpipe emissions and improved fuel economy of vehicles.

Environmental aspects
Procurement

The project concerns the upgrading of an existing refinery to improve competitiveness by converting heavy oil products to high quality fuels and petrochemical feedstock. It falls under Annex II of the EIA directive 85/337/EC and its amendments. Due to its technical characteristics and potential impacts on the environment, an EIA was conducted by the promoter and approved by the environmental authorities in the second half of 2008.

The project is a private sector operation. Procurement follows the promoter’s corporate in-house purchasing procedures to ensure an appropriate level of competition among qualified contractors.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications