SPAIN'S DOWNSTREAM RESTRUCTURING, PRIVATIZATION PUSH STILL ON TRACK

Spain's downstream petroleum sector has weathered major changes the past 2 years. Mo changes have been linked to participation in the single European market that took effect Jan. 1. The most critical change has been an end to a 63 year old state monopoly on distribution of petroleum products in the country. Integrated companies around the world continue to scramble for market share in Spain's refining/marketing sector as it opens further to private investment and foreign ownership.

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