Alphavalue / Divacons | The Venezuelan government, through PDVSA, and Spanish oil company Repsol and Italian oil company Eni have signed a gas supply agreement. According to Delcy Rodríguez, the agreement ‘guarantees gas supplies’ in Venezuela for national development and domestic consumption. The government also expressed its willingness to promote new partnerships in oil and gas to increase production. Rodríguez thanked both companies for remaining in Venezuela during the ‘hardest…

Link Securities | Repsol, Spain’s largest oil company, has estimated that it can recover €4.55 billion from Venezuela, which is currently trapped in the country, according to the newspaper Expansión. The figure includes loans and outstanding invoices from PDVSA, the state-owned hydrocarbon monopoly. It also includes the accounting provisions that Repsol has been making for years to cover the impairment of its assets in the country, given the chaotic situation…

Repsol, in a consortium with the Hungarian firm Mol and the Turkish company TPOC, has been awarded blocks in the first public bidding round for oil and gas exploration held by Libya’s National Oil Corporation (NOC) in two decades. Alongside the Spanish, Hungarian, and Turkish firms, other winners in this auction—which aims to revitalize the African nation’s oil sector—include the Eni-Qatar Energy consortium, as well as the American giant Chevron…

Alphavalue/Divacons | The new general licence issued by the US Treasury authorises ENI (Reduce, Target Price €18.4/share) and Repsol to collect PDVSA’s accumulated debt, estimated at around $6 billion, through the exchange of Venezuelan heavy crude oil for fuels. After producing gas without receiving direct payments, this measure re-establishes a crucial channel for value recovery, albeit under a stricter US regulatory framework that prohibits the use of Chinese-controlled infrastructure. Given…