Repsol

repsolrenovables

Repsol sells 49% stake in renewable assets of Ebro project to Pontegadea for €363 million

Bankinter| Repsol (REP) has sold a 49% stake in renewable assets of the Ebro project, 618MW, to Pontegadea for €363 million. This represents a valuation of the entire portfolio €740 million. It comprises twelve wind farms in Huesca, Zaragoza, Teruel, Valladolid, Albacete and Cádiz. Assessment: Positive news because it strengthens alliances with Pontegadea, with whom it has already closed three operations in renewables (49% of the Delta project for €245…


repsol refineria exterior

Repsol considers setting up new industrial projects in Portugal due to maintenance of energy tax in Spain

Link Securities| Repsol issued a note yesterday in which it pointed out that the possibility of maintaining a tax on energy companies, which was conceived as temporary and extraordinary, punishes companies that, like REP, invest in industrial assets, generate employment and guarantee the country’s energy independence, the daily Expansión reported. Instead, it favours importers that do not generate employment or relevant economic activity in Spain. Consequently, the company adds that…


RepsolImaz

Repsol posts net income of €2.785 billion in first nine months of 2023

Investments through September totalled €4.362 billion (+82%), mainly in Spain and the United States and aligned with the aim to allocate 35% of total investments in the year to low-carbon projects. At the same time, the company’s fiscal contribution totalled €10.89 billion. Repsol strengthened its renewable generation portfolio and its presence in the United States with the acquisition of ConnectGen, a company with a pipeline of 20,000 MW. The company…


Repsol

Norges Bank increases its stake in Repsol to 5.102% of share capital

Link Securities | In a statement, the world’s largest sovereign wealth fund, the Norwegian Norges Bank, details that in the session of 9 October, it reached 5.102% of the capital of the Spanish oil company Repsol (REP). Until now it had controlled 4.899% of the capital of the Ibex-35 company. On the other hand, the newspaper Expansión reports in its Wednesday edition that Repsol is going to extend its commercial…


repsolrenovables

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…


Repsol

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…


Repsol

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…


Repsol

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

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…


X Elio fotovoltaica

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,…