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Gobierno de España - Ministerio de Hacienda y Función Pública

History: INH

Instituto Nacional de Hidrocarburos (INH) was created by Act 45/1981, on December 28th, as a public law entity subject to private law and attached to the Ministry of Industry and Energy, for managing the public entrepreneurial activities in hydrocarbons, which until then had been integrated within INI.

INH's creation was the answer to the second oil crisis and took place within the framework of a significant reorganization of the industry, which after the review of the National Energy Plan required a large degree of coordination among the industry companies. As a result of the above, on June 15th, 1981 INI transferred to INH its Oil and Petrochemical Division, as well as its Gas Division, and with them the shares and rights in such companies as ENPETROL, HISPANOIL, ENIEPSA, ENAGÁS and BUTANO.

At a later date, in 1987, the reorganization of the activities, mainly due to the end of the State monopoly as a result of Spain's accession to the European Community, resulted in the incorporation of the entrepreneurial group Repsol within the INH itself. Repsol brings together since then the State participations in the oil, butane gas and drilling and exploration companies.

In 1989, INH started to sell shares in Repsol to private investors, through a public offering for 26% of the capital of this company. After the sale of more shares in 1993 and 1995, on March 1997 SEPI concluded the total privatization of Repsol through a new public offering for the 10% of the shares which at the time belonged to SEPI itself.

INH disappeared on June 16th, 1995, by Royal Law Decree 5/1995 for the Creation of Certain Public Law Entities, which also suppressed INI and created SEPI and the Agencia Industrial del Estado.

Chairmen of the Instituto Nacional de Hidrocarburos

Claudio Boada (May 22nd, 1981 to January 22nd, 1985)
Oscar Fanjul (January 23rd, 1985 to July 28th, 1995)

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