Repsol

Companies, Ibex, Spanish economy 22nd November 2022

Repsol could hike its investment in renewables in the US with two projects valued at €800 M

Bankinter | Repsol could launch two hefty investments in renewables in the US. Specifically, according to press reports, it would be two projects in Texas for 1.200 MW. The investments are calculated to reach 800 million euros (investments forecast for the whole year are approximately 4 billion euros). Repsol has significant Exploration and Production assets in Pennsylvania, Texas, the Gulf of Mexico and Alaska. But this move would mean positioning…

Companies, Ibex, Spanish economy 18th November 2022

S&P hikes Repsol rating to BBB+ from BBB after company strengthens balance sheet amid high raw material prices

Renta 4 | S&P has raised its rating on Repsol from BBB to BBB+, while maintaining its A-2 in the short-term, with a stable outlook. The ratings agency has based its move on a backdrop of high raw material prices, divestments and Repsol’s prudent financial policies to strengthen its balance sheet and improve credit measures. S&P flags that the market situation will favourably affect the company throughout the cycle. This…

Companies, Ibex, World economy 12th November 2022

Repsol boosts natural gas production, strengthens its position in US

Link Securities | Repsol has strengthened its offensive in the US to boost its natural gas output. According to sources consulted by el Economista.es, the group has reached an agreement with Australia’s Santos-Oil Search to take a 49% stake in a total of 46 exploration blocks in Alaska. At the same time, the Spanish oil and gas company has acquired a mining area from Abarta in the Marcellus basin and…

Spanish economy 27th October 2022

Repsol Posts Net Income Of €3.222 Billion And Rises 11% Dividend

Net income from January to September was €3.222 billion. The recovery in the first half of the year is allowing Repsol to partially offset the losses in 2019 and 2020 of more than €7.1 billion due to asset adjustments linked to the zero net emissions ambition and the global health pandemic. Adjusted net income amounted to €4.564 billion, of which close to 60% came from the company’s international businesses, whose…

Companies, Ibex, Relevant News Item 17th October 2022

Repsol enters Acteco’s capital with 27% stake

Renta 4 | Repsol has bought 27% of Acteco, which specialises in the pickup, management and recycling of waste in Spain, specifically plastics. With the acquisition of this stake, the oil and gas company has guaranteed the supply of waste which will be used in the manufacturing of low emission products. Repsol continues to bet on the circular economy. No financial details of the transaction have been revealed. With 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…

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