Repsol has given the green light to its first large-scale electrolyser, with a capacity of 100 MW, at its industrial complex in Cartagena. The facility, involving an investment of €300 million, will be capable of generating up to 15,000 tonnes of renewable hydrogen annually, and will prevent the emission of up to 167,000 tonnes of CO2 each year. The company will use the renewable hydrogen as a feedstock to manufacture…
Banc Sabadell | Pertamina Hulu Energi, a subsidiary of Indonesian state-owned company Pertamina, is in final negotiations to acquire 12.5% of the Pikka project in Alaska for $1 billion (€847 million/5% capitalisation), according to press reports. Repsol (REP) owns 49% of the project, while the Santos group controls the rest. On the other hand, Reuters reports that negotiations between Aramco and Repsol for the purchase of 25% of its Renewables…
Renta 4 | Repsol (REP) has published its results for Q2 2025, significantly exceeding our estimates and those of the consensus, both in EBIT (up 16% versus consensus) and in adjusted earnings (up 41% versus consensus), recording declines of 19% year-on-year and 18% year-on-year, respectively, reflecting the volatile environment of the quarter, with lower realisation prices for crude oil offset by higher gas prices in upstream and where the industrial…
Renta 4 | According to information published in the press, Repsol (REP) has agreed to acquire 70% of On Demand Facilities S.L. (ODF Energía), an electricity and gas marketing company, for a price of around €21 million.ODF Energía, which has a portfolio of around 22,000 business customers (>1% of Repsol’s portfolio), bases its value proposition on a flexible business model that is close to the channel, with a strong focus…
Link Securities | Activist fund Elliott Management, which last March burst onto the scene by acquiring a stake in Repsol, Spain’s leading oil company, continues to climb the ranks, Expansión reports today. According to National Securities Market Commission (CNMV) records, it now holds 1.35% of Repsol’s capital, which at current prices is equivalent to an investment of almost €200 million. In half a dozen successive transactions since March, the fund…
Link Securities | The Spanish oil company informed the National Securities Market Commission (CNMV) that it has reached an agreement to sell its 24% stake in the Corridor block in Indonesia, where it is not the operator, to Medco Energi for $425 million. This transaction is part of Repsol’s asset rotation strategy to optimise its upstream portfolio and focus its efforts on assets that offer high profitability and cash generation….
Bankinter | Weak Q1 2025 results, affected by the fall in oil prices. Guidelines maintained despite the complex context. BNA figures versus market consensus estimates: Exploration and Production €458 million (+3.6%) versus €382 million estimated, Industrial €131 million (-82.1%) versus €192 million estimated; Customer €160 million (-2.6%) versus €157 million estimated, Low Carbon Generation €5 million versus €7 million estimated. Key figures compared with market consensus: Revenue €14,408 million (-5.1%…
Repsol is now producing electricity at Antofagasta Phase 1, its largest wind farm to date and one of the largest in Chile. Located in the Taltal commune, in the Antofagasta region, it has a total installed capacity of 364 MW. Construction of Phase 2, with a capacity of 450 MW, will begin shortly, the energy company reports. With an investment of nearly €400 million, Antofagasta Phase 1, which will become…
Banc Sabadell | Repsol (REP) will sell a part (49% stake) of a solar (300 MW) and wind (400 MW) portfolio in Spain that will come on stream in 2025 with a combined capacity of 706 MW, according to press reports. The valuation is estimated at over €900 million. Assessment: Positive news with little impact (3.8% capitalisation/8% NFD’24) if confirmed as more asset rotation was expected by 2025. We recall…
Renta 4 | Repsol has reached an agreement to consolidate its upstream oil business in the UK with NEO Energy Group Limited, a leading independent oil and gas operator in the UK. The agreement will be structured through a share swap in which Repsol will have a 45% stake in the joint venture and NEO UK a 55% stake, reflecting the contribution and strategic alignment of both groups, with a…