Repsol

World economy 8th September 2023

Repsol enters US wind sector after buying ConnectGen for €715 million

Repsol has just announced the signing of an agreement to buy the US renewable energy development group ConnectGen for $768 million (around €715 million) from 547 Energy, the renewable energy development platform of Quantum Capital Group. According to the statement, with this transaction Repsol “strengthens its position as a global player in this energy sector, increases its international presence and contributes to its goal of reaching 20,000 MW installed by…

Spanish economy 7th September 2023

Repsol sells Peyto exploration and production assets in Canada for $468 million

Repsol has agreed to sell its oil and gas assets in Canada to Peyto for $468 million (about €433 million). The deal includes all mineral rights, facilities and infrastructure related to Repsol’s Canadian oil and gas exploration and production business, including the Greater Edson area assets, which have a net production of 23 kboe/d, mainly gas. Repsol maintains commercial and logistics operations in Canada through its St. John LNG facility…

Relevant News Item 27th July 2023

Repsol, which generates 20% of all energy consumed in Spain, reports €1.42 billion profit in first half of 2023

The company has already paid a final dividend of €0.35 gross per share in July, which together with the one paid in January brought the cash dividend for the year to €0.70 gross per share, 11% more than in the previous year. In addition, Repsol yesterday approved a new capital reduction through the cancellation of 60 million treasury shares, which will be added to the 50 million shares cancelled in…

Spanish economy 19th June 2023

Repsol allies with Sonatrach and Pertamina to exploit hydrocarbons in Algeria

REPSOL (REP) has signed with Algeria’s state-owned Sonatrach and Indonesia’s Pertamina an alliance for the exploitation of hydrocarbons in the Menzel Lejmat area in Algeria, in which they will invest a total of $800 million (about €731 million). This production-sharing contract is part of the memorandum of understanding signed between the three companies on 28 September last year and the project is estimated to recover around $150 million (about €731…

Repsol's new challenge is the sale of Gas Natural's stake

In Spain, Spanish economy 26th May 2023

Repsol raises dividend by 11% and denounces European regulatory strategy for “lack of planning”

Repsol achieved a record profit of €4,251 million in 2023, a 70% increase, due to the increase in the price of crude oil and gas. The good results were boosted by the refining margin, which increased 6.5 times compared to 2021. Oil production amounted to 550,000 barrels of oil equivalent, down 3.8%. In terms of investments, the CEO, Josu Jon Imaz, announced investments of 5,000 million for this year and…

World economy 25th May 2023

Repsol begins photovoltaic electricity production in Chile

The Spanish oil company’s first joint solar project in Chile, announced yesterday by the two companies REPSOL (REP) and Grupo Ibereólica, through their 50/50 joint venture Repsol Ibereólica Renovables Chile, has begun to feed electricity into the grid with the start-up of the first phase of the “Elena” photovoltaic plant, which will have a total installed capacity of up to 596 megawatts (MW). Specifically, the first phase of this facility,…

Companies, European economy 18th May 2023

Repsol to develop 1.7 GW of renewables in Italy with an estimated investment of €500 million

Renta 4 | Repsol to develop 1.7 GW of renewable energy projects in Italy. The project will have 943 MW of generation using wind technology and 825 MW of solar. The total cost is estimated at €500 million. Assessment: Positive impact. Repsol will develop 1.7 Gw of renewable energy in Italy with an estimated investment of €500 million. The portfolio is expected to be operational in 2025. Repsol is thus…

Spanish economy 27th April 2023

Repsol reports first quarter net income of €1.112 billion

In January, a cash dividend of €0.35 gross per share was paid out. The same amount will be proposed to the Annual General Meeting for distribution in July. With these payments, Repsol will increase cash remuneration for its shareholders by 11% in 2023, in addition to a capital reduction of 50 million shares. During the quarter, Repsol invested €1.726 billion, mainly in Spain and the United States. The company expects…

Spanish economy 3rd April 2023

Argentina ordered to pay between €8 billion and €18.2 billion for YPF expropriation, but Repsol already compensated

Bankinter | Argentina has been ordered to pay between €8 and €18.2 billion for the expropriation of YPF in 2012, Repsol (REP) will not receive any money. Repsol was compensated years ago with €5,000 million in bonds from the Argentine government and will not receive any new compensation for the application of this sentence. The compensation will be received by the law firm and funds that have financed the lawsuit,…

Spanish economy 21st March 2023

Repsol to offer electricity and gas customers 30-cent discount from April 1

Renta 4 | Repsol launches a discount of 30 cents per litre for customers who have contracted electricity, gas or butane. This offer will come into effect on 1 April. The discount will be incremental and will depend on the number of contracts the customer has with the company. Waylet, the company’s payment platform, has six million customers registered. It is the company’s key customer loyalty tool. The tool aims…

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