According to Josu Jon Imaz, Repsol CEO, “it is not acceptable that there are industries which have to stop because they cannot assume the energy costs”. So he has asked the European institutions to immediately put more CO2 rights on the market which, in his opinion, would have an “immediate effect” on consumers’ electricity bills and on the competitiveness of industry. Imaz said that “European consumers are paying an oversized…
Repsol plans to build two new plants for high value-added, 100% recyclable polymeric materials for the pharmaceutical, automotive and food industries.The project has been considered by the Portuguese government as an initiative of Potential National Interest (PIN), a qualification reserved for investments that make a significant contribution to the country’s economy, and will benefit from tax incentives for investments of up to 63 million euros.
Repsol has produced, at its Petronor Industrial Complex in Bilbao Spain, the first batch of aviation biojet fuel, a sustainable fuel obtained from waste. This important milestone in the production of fuels with a low carbon footprint represents an evolution in the decarbonisation of air transport fuels, a segment where electrification is not viable at the moment. The batch consists of 5,300 tonnes of sustainable fuel, the use of which…
In this period, the company has advanced in the decarbonisation objectives laid out in its 2021–2025 Strategic Plan. The plan and related actions have enabled the company to benefit from the incipient recovery in demand, still below 2019 levels, and the improvements in raw material prices. As a result, Repsol was obtain positive cash flow in all business segments and a net debt reduction of 6%. Adjusted net income, specifically…
Bank of Montreal informed the CNMV on Monday that it holds a total of 3.467% of the voting rights of Repsol (REP). However, it does not specify whether this is in its own name or in the name of third parties, nor the average acquisition price. This stake would make it the fifth largest shareholder after Sacyr, with 8.2%, JP Morgan with 6.8%, BlackRock with 5% and Amundi with 4.5%….
Repsol inaugurated its first photovoltaic complex in Manzanares (Ciudad Real) yesterday, called Kappa. The facility has involved an investment of 100 million euros and has total installed capacity of 126.6 megawatts (MW) distributed over three plants: the already operationalPerseo Fotón I and Perseo Fotón II, totalling 90.5 MW; and Perseo Fotón III, currently under construction, which will add the remaining 36.1 MW. It consists of 285,331 solar modules and will…
Repsol (REP) has just submitted, via Hecatte Energy, an application to the New York State Office of Renewable Energy Siting to build a 500 MW solar plant in the towns of Elba and Oakfield. The plant will involve an investment of over $500 million and is expected to create more than 500 jobs during construction. It is capable of supplying 920,000 MWh of renewable electricity annually. This will be enough…
Repsol will stop producing oil in mid-June at ‘Casablanca’, the last oil platform in Spain located in the waters around the coast of Tarragona. The new Spanish Climate Change and Energy Transition Law contemplates that Spain will no longer grant new exploration authorisations, so this shutdown of Casablanca is a step towards this purpose. In 2018, the hydrocarbon field of La Lora in Burgos, the oldest oil field in Spain operating since 1964, was already forced to close.
Repsol has licensed its technology for propylene oxide (PO) and styrene monomer (SM) and polyols so that a 200,000 tons/year PO and 450,000 tons/year SM plant can be built, and two plants with an aggregate production capacity of 125,000 tons/year of flexible polyether polyols (PPG) and polymeric polyols (POP). This agreement is in addition to the three previous technology licensing agreements reached by Repsol with Chinese companies since 2013.
Repsol announced the IPO of its renewables area or an alliance with a third party in its Strategic Plan 2021/2025 presented on November 26th. The operation could be carried out in less than two years and it will always maintain control of the shareholders. The company expects to raise at least 1.4 billion euros with the floating, which would mean valuing the division at around 3 billion euros. It would be one of the largest operations of the last decade.