Repsol sows seeds for organic growth

From small things, good things grow, says Antonio Brufau. Repsol’s chief talks to Anthea Pitt, about the strengths of not-so-big oil

Antonio Brufau adds a third shot of coffee to his double espresso, and takes a sip. Less than an hour earlier, at the World Petroleum Congress (WPC) in Doha, Repsol’s chairman and chief executive called on the industry to craft a new future; one with both frugality and sustainability at its core. His WPC address marked the end of a hectic year for Brufau; this cafecito is well-earned. For Repsol – and for the firm’s head – while 2011 has been eventful, the second half of the year has been especially sweet. Less than two months after Muammar Qadhafi’s ouster, Repsol’s Libyan fields are producing at an average of 170,000 barrels a day, about 60% of their pre-war levels (PE 11/11 p18). The firm