Alphavalue/Divacons | Repsol (REP) is meeting with the White House to clarify its future in Venezuela, according to a report in Thursday’s edition of the newspaper Expansión. Repsol has reportedly asked Trump to allow it to extract oil as Chevron has done, even if it has to take it to the United States.
As we pointed out yesterday, the Spanish oil company is the Spanish company with the greatest economic exposure to Venezuela, where a significant part of its hydrocarbon reserves and production are concentrated.
In 2024, it produced 24 million barrels of oil equivalent (mbep), worth more than $1.4 billion, mainly in gas. That production is consumed entirely in the country, due to US sanctions, and accounts for 33% of the gas used by Venezuela, making Repsol a key player in its economy.
Despite the geopolitical context, production has grown steadily since 2022 and reached 70,500 b/d in H1 2025, compared to 65,000 b/d a year earlier.
Repsol shares fell by 2.28% on Wednesday.
Repsol: Reduce, Target Price €17.5/share.
