Repsol

Companies, Ibex, Spanish economy 12th October 2022

Repsol’s Q3’22 trading statement predicts spectacular results: record Ebitda of €12.955 Bn

Renta 4 | On Monday after the market close, Repsol released figures corresponding to Q3’22, where the price of Brent (100,8 USD/b) rose 37.1% year-on-year and fell 11.5% quarter-on-quarter, and the price of gas (8,2 USD/Mbtu) was up 105% year-on-year and 13.9% quarter-on-quarter. These figures compare with the company’s guidelines for 2022, where it considers levels of 70 USD/b and 3,7 USD/Mtbu, while sensitivity to the price of Brent is…

Companies, Ibex, Spanish economy 19th September 2022

EIG Partners to buy 25% of Repsol E&P via structured group of companies based in Scotland

Norbolsa | US investment firm EIG Partners will buy 25% of Repsol E&P, using a structured group of companies based in Scotland. The structure will be similar to that used by MásMóvil and Asterion. It will allow the use of external debt and the entrance of co-investors; whatsmore it will have fiscal advantages and organisational flexibility.

Interviews 12th September 2022

“In The Last Ten Years, While Consumption Has Risen By 1.3%, 24 Refineries Have Been Closed In The EU.”

Explains Mariano Marzo, Repsol board member: “If we are going to need oil and gas, and it is clear that they will be necessary for many years to come, we must guarantee their production without demonising them. Failure to do so means tackling an ill-considered energy transition, driven more by ideology than by technology” … “The main risk of this ideological approach, which is quite widespread in many European areas,…

Spanish economy 7th September 2022

Repsol Partners with EIG In Its Upstream Business With A 25% Stake For $4.8 Billion

EIG, a U.S. institutional investor in the global energy and infrastructure sectors, will acquire 25% of the upstream business for $4.8 billion (€4.8 billion). This transaction, approved by the Board of Directors of Repsol, values the upstream business at $19 billion (€19 billion), which exceeds analysts’ consensus valuations of the unit. The agreement between Repsol and EIG includes the possibility of listing a minority stake of the business in the…

Companies, Ibex, Spanish economy 24th August 2022

Repsol: Saudi Arabia hints at possible cut in production

Renta 4 | 1. Saudi Arabia’s Energy Minister, prince Salmán bin Abdulaziz, has hinted that Saudi could cut its oil production. This decision has been based on the extreme volatility and the lack of liquidity of oil futures which are leading to a decorrelation in the price with the fundamentals of supply and demand. For that reason, OPEC+ could see itself obliged to reduce output. 2. Saudi Arabia is the…

Companies, Ibex, Spanish economy 18th August 2022

Repsol teams up with Santos to invest €2.555 bn in Alaska

Renta 4 | . Repsol and Australian oil and gas company Santos will invest 2.555 billion euros in the Pikka project in North Slope Alaska. This field is biggest discovery of oil in the US in thirty years. The Spanish firm’s board has given the green light to the investment, which could increase to 2.952 billion with additional developments on the project. Repsol will have 49% and Santos 51% of Pikka. Each…

Companies, Ibex, In Spain, Spanish economy 9th July 2022

Repsol production falls 3.2% in Q2’22 (540.000 b/d); but refining margins continue recovery

Renta 4 | On Thursday after the market’s close, Repsol published operating figures for Q2’22, during which the price of Brent (113,9 USD/b) rose 65.1% year-on-year and 11.4% quarter-on-quarter. Meanwhile the price of gas (7,2 USD/Mbtu) was up 157.1% year-on-year and 44% quarter-on-quarter. We recall that in its guidelines for 2022, the Spanish oil and gas group considers levels of 70 USD/b and 3,7 USD/Mtbu, and that the sensitivity to…

Companies, Ibex, World economy 4th July 2022

Germany, Canada negotiate investing €2 B in Repsol’s Saint John LNG plant

Renta 4 | Germany and Canada are negotiating an investment of 2 billion euros in the Saint John LNG regasification plant, owned by Repsol. The aim is to be able to export gas to Europe to reduce dependence on Russia, according to press reports. The Canadian Environment Minister has indicated that Repsol’s plant would be the one which could most quickly make the deployment, as it already has the infrastructure…

Companies, European economy, Ibex 4th July 2022

Repsol and Ardian bid for majority stake in PLT Energía

Renta 4 | Repsol would be interested in buying Italian renewables company PLT Energía. Repsol and the French fund Ardian are bidding for a majority stake in the Italian firm valued at 1 billion euros, according to press reports. In the event the possible purchase happens at some point in the future, it would mean Repsol disembarking in the Italian energy market. Swedish fund EQT would also be interested in…

Spanish economy 9th June 2022

Repsol Sells 25% Stake In Respol Renovables For €905 Million

Repsol’s Board of Directors today approved the sale of a 25% stake in Repsol Renewables (Repsol Renovables currently has more than 1.6 GW of installed renewable capacity and is present in Spain, the United States, Chile, and Portugal) to the consortium formed by the French insurance company Crédit Agricole Assurances and Switzerland-based Energy Infrastructure Partner (EIP) for €905 million. The transaction values Repsol’s renewable business at €4.383 billion, including debt…

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