Repsol

In Europe 23rd January 2025

Repsol and Italian EVO Auto to jointly promote use of LPG as alternative and ecological fuel

Link Securities | The Spanish company and EVO Auto, the car brand of the Italian group DR Automobiles, have signed a framework collaboration agreement in Spain to promote the use of liquefied petroleum gas (LPG), as reported by both companies through a joint statement, Expansión reported yesterday. Thanks to this alliance, Repsol and EVO Auto are committed to promote the use of LPG as an alternative and environmentally friendly fuel,…

In the World 20th January 2025

Unlike BP, Shell, or Exxon, Repsol’s refining margin improves in 4Q24 to $4.8/b

Norbolsa | Repsol (REP) published its trading statement for 4Q24 on Wednesday at the close of the market. The production figure for Q4 (554 k b/d) was similar to that of Q324 and 7% lower than in Q422, with the maintenance of Brazil being offset by higher production in Libya. On a yearly basis, production stood at 571 k b/d, at the lower end of its target range for the…

In the World 13th January 2025

New US sanctions on Russian oil could lead Repsol to scale back buyback programme

Morgan Stanley | Our analyst Martijn Rats notes that the US has gone further than expected on new sanctions on the Russian oil industry, which has driven up downside risk to oil supply, at least temporarily. This has led the strategist to slightly increase his forecast for Brent to $77.5/bbl in 1Q25 (vs. $72/bbl previously) and $75/bbl in 2Q25 (vs. $70/bbl previously). In this context, it is worth noting once…

Companies, In the World 2nd January 2025

Ecopetrol reaches agreement to acquire Repsol’s 45% stake in CPO-09 oil well

Alphavalue/DIVACONS | The oil company’s CEO, Jose Jon Imaz, criticised the government for “settling regulatory and fiscal policies in a bazaar” and urged to “raise our voices against the tax on energy companies”, assuring that it is “making investment in Spain impossible”. In other news, as we read on Monday in elEconomista, Ecopetrol has entered the sale of 45% of the Colombian oilfield CPO-09, which Repsol held in the country…

In Spain 18th December 2024

Spain: PNV refuses to support extraordinary tax on energy companies

Reconciling the support of center-right nationalist parties, such as the Basque Nationalist Party (PNV) or Junts per Catalunya (the party of the fugitive Puigdemont), with that of extreme left parties (Podemos, Sumar…) was possible a year ago, to elevate Pedro Sánchez to the presidency of the Government despite having lost the elections. Spain has never had a weaker government, more willing to stay in power by making the necessary concessions…

In the World 26th November 2024

Repsol ‘still awaiting’ solution to possible extension of tax on energy companies

Alphavalue / Divacons | Luis Cabra Dueñas, deputy general director of the oil company, said that the energy transition plans in Spain ‘are still awaiting’ the resolution on the possible extension of the energy tax. It is a ‘question of economic reality’, he said. ‘Repsol has energy transition plans in its refineries and in the renewable electricity generation sector worth billions over the next few years. If part of the…

In Spain 21st November 2024

First lawsuit for greenwashing in Spain: Iberdrola accuses Repsol of “misleading advertising”

Iberdrola and Repsol face each other today in Santander Commercial Court number 2 in the oral hearing following the lawsuit filed by the electric company against the oil company for “unfair competition” and “misleading advertising.” This will be the first trial between companies for greenwashing in Spain. Iberdrola is asking for some of Repsol’s campaigns to cease, but not for damages.The trial will take place in the city of Santander…

In Spain 22nd October 2024

Repsol halts investment in Spain due to ‘tax hike’ of 1.2% on revenue

Repsol stands firm against the ‘tax hike’ on energy companies (and banks) that the government has announced it wants to make permanent. As a result, Repsol is putting on hold investments for projects amounting to around €1.5 billion, which would affect the group’s portfolio projects in the Basque Country, Tarragona (Catalonia), Cartagena (Murcia), and A Coruña (Galicia). A year ago, its CEO, Josu Jon Imaz, warned that he was leaving…

Relevant News Item 21st October 2024

Repsol, pre-qualified for commissioning of two photovoltaic parks in New York

Renta 4 | Two 520 MW ConnectGen/Repsol photovoltaic parks have been prequalified for commissioning in conjunction with the New York Power Authority (NYPA), the country’s largest state-owned utility, according to press reports. The first farm will be located in central New York State and will have 250 MW of generating capacity and is expected to be operational by the end of next year. The second will be located in the…

In the World 23rd September 2024

Repsol increases exposure to Gulf of Mexico with purchase of additional 16.67% in Block 29 of Salina Basin

Renta 4 | The company has bought an additional 16.67% in Block 29 of the Salina Basin, in the Gulf of Mexico, thus reaching 46.67%. Repsol was the first company to make a deepwater hydrocarbon discovery in this area in 2020, and is currently carrying out preparatory activities for the development of its Polok and Chinwol oil discoveries, which are expected to come on stream around 2028. Both wells confirmed…

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