Repsol

Spanish economy 22nd June 2021

Repsol Inaugurates Its First Photovoltaic Complex

Repsol inaugurated its first photovoltaic complex in Manzanares (Ciudad Real) yesterday, called Kappa. The facility has involved an investment of 100 million euros and has total installed capacity of 126.6 megawatts (MW) distributed over three plants: the already operationalPerseo Fotón I and Perseo Fotón II, totalling 90.5 MW; and Perseo Fotón III, currently under construction, which will add the remaining 36.1 MW. It consists of 285,331 solar modules and will…

Relevant News Item 15th June 2021

Repsol To Build A 500 MW Solar Plant In The US With Investment Of Over 500 M$

Repsol (REP) has just submitted, via Hecatte Energy, an application to the New York State Office of Renewable Energy Siting to build a 500 MW solar plant in the towns of Elba and Oakfield. The plant will involve an investment of over $500 million and is expected to create more than 500 jobs during construction. It is capable of supplying 920,000 MWh of renewable electricity annually. This will be enough…

Spanish economy 27th May 2021

With The Closing Of The Casablanca Oil Platform, Spain Ends Almost 60 Years Of Oil Production

Repsol will stop producing oil in mid-June at ‘Casablanca’, the last oil platform in Spain located in the waters around the coast of Tarragona. The new Spanish Climate Change and Energy Transition Law contemplates that Spain will no longer grant new exploration authorisations, so this shutdown of Casablanca is a step towards this purpose. In 2018, the hydrocarbon field of La Lora in Burgos, the oldest oil field in Spain operating since 1964, was already forced to close.

Ibex, Markets, Spanish economy 23rd February 2021

Repsol Signs An Agreement With A Chinese Producer To Build Three Chemical Plants In Jiangsu

Repsol has licensed its technology for propylene oxide (PO) and styrene monomer (SM) and polyols so that a 200,000 tons/year PO and 450,000 tons/year SM plant can be built, and two plants with an aggregate production capacity of 125,000 tons/year of flexible polyether polyols (PPG) and polymeric polyols (POP). This agreement is in addition to the three previous technology licensing agreements reached by Repsol with Chinese companies since 2013.

Ibex, Markets, Spanish economy 9th December 2020

Repsol Is Expected To Float Its Renewables Subsidiary In Less Than Two Years

Repsol announced the IPO of its renewables area or an alliance with a third party in its Strategic Plan 2021/2025 presented on November 26th. The operation could be carried out in less than two years and it will always maintain control of the shareholders. The company expects to raise at least 1.4 billion euros with the floating, which would mean valuing the division at around 3 billion euros. It would be one of the largest operations of the last decade.

Ibex, Spanish economy 30th November 2020

Repsol’s Will Invest €18.3 Bn Between 2021-25, Of Which 30% Will Go To Decarbonisation

Last week Repsol unveiled its strategic plan for the period 2021-25. The company will decarbonize its asset base and implement a new operating model with new pillars such as the Customer and Low-Carbon Generation Businesses. Furthermore, Repsol aims to substantially increase EBITDA, to more than €8.2 Bn in 2025. The strategic plan will have two differentiated periods. In the first two years, it will focus on ensuring financial strength. From 2022, the point will shift to the acceleration of growth.

Ibex, Markets, Spanish economy 28th October 2020

Repsol Leaves Ecuador After The Sale Of Its Assets To Canadian Firm New Stratus Energy For €5 M

Repsol has reached a good intentions agreement with the Canadian company New Stratus Energy for the sale of assets in Ecuador, so that the oil company will leave the South American country, where it has been present for almost twenty years. The deal amounts about $5 M (about € 4.2 M) to be paid in two installments, although there could be additional contingent payments linked to certain circumstances, such as an extension of the service contracts term, which would bring it up to $12 M (about € 10.1 M).

Ibex, Markets, Spanish economy 9th October 2020

Repsol’s Production In The 3Q20 Reached 615,000 b/d, Down 13.5% Compared To The Same Period Of 2019

Repsol reached a production of 615,000 bpd, which represents a decrease of 13.5% compared to the same period last year and 3.8% compared to the previous quarter, mainly due to the US (Marcellus and Eagle Ford). The refining margin, an important indicator for the downstream business, averaged a negative $0.1 per barrel in 3Q20. This level reflects the impact of the worldwide uncertainty caused by the coronavirus crisis. This indicator in the previous quarter was $ 3 per barrel, while in 3Q19 it was $ 5.5.

Ibex, Markets 17th June 2020

Aramco Enters The Spanish Market Through An Alliance With Repsol To Produce Synthetic Fuels

The Spanish oil and gas group has announced an agreement with Saudi state oil company Aramco for the development of synthetic fuels. The agreement begins with an industrial conversion project in the Petronor factory (Basque Country) and would later be transferred to the rest of Repsol’s facilities globally. Repsol will invest 80M euros to modify some of Petronor’s production processes via two projects.

Ibex, Markets 7th May 2020

Repsol Makes Two Major Discoveries In Mexico, In The Midst Of The Oil Crisis

Repsol has found oil in two important deep-water deposits in the Gulf of Mexico, specifically in the wells known as Polok-1 and Chinwol-1. These are located in Block 29 of the Salina Basin, in the south-east area of the Gulf and off the coasts of the states of Veracruz and Tabasco. The effects of the coronavirus pandemic determined Spanish oil and gas group’s results first quarter 2020 results. It recorded an adjusted net result of 447 million euros, a 27.7% decrease from the 618 million euros a year earlier.

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