Renta 4 | Repsol has signed an agreement with the Venezuelan Ministry of Hydrocarbons and the state-owned company Petróleos de Venezuela (PDVSA) to regain operational control and increase oil production at Petroquiriquire (60% PDVSA and 40% Repsol). The deal also aims to guarantee payment mechanisms and strengthen the operational framework for its activities in the country, under the Framework Agreement originally signed in 2023. We recall that this agreement, amended…

Banco Sabadell | Repsol has been awarded 42 new exploration blocks in the latest federal licensing round in Alaska and will participate alongside Shell in a partnership in which Repsol will hold a 30% operating interest. Assessment: Positive news, albeit of limited impact, reflecting Repsol’s commitment to North America, particularly Alaska. We note that Pikka would be one of the largest conventional onshore discoveries in the US, where the company…

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…