Repsol SA is engaged in the exploration and production of crude oil, natural gas, and refined petroleum. It operates through the following segments: Upstream, Downstream, and Gas Natural Fenosa. The Upstream segment engages in exploration and development of crude oil and natural gas reserves. The Downstream segment is involved in refining, trading and transportation of crude oil and oil products, as well as the commercialization of oil products, petrochemical products and liquefied petroleum gases; the commercialization, transport and regasification of natural gas and liquefied natural gas; and renewable energy power projects. The Gas Natural Fenosa segment engaes in distribution and commercialization of natural gas, and the generation, distribution and commercialization of electricity. Repsol was founded on October 17, 1927 and is headquartered in Madrid, Spain.