Repsol

Spanish economy 22nd February 2024

Repsol announces dividend hike (30% to €0.9/share) despite 25% drop in 2023 profit to €3.168 billion

The company increases the cash dividend by approximately 30% in 2024, to €0.9 per share (€1.095 billion in total) and commits to increasing it by 3% annually. With this, Repsol will distribute €4.6 billion in cash in the 2024-2027 period. This remuneration will be complemented with share buybacks of up to €5.4 billion, in the expected price environment, thus allocating up to €10 billion to remunerate shareholders over the next…

Relevant News Item 9th February 2024

Centrica reaches supply agreement with Repsol to buy 1 Mt of LNG between 2025-2027

Link Securities| Repsol (REP) and Centrica have signed an agreement that will increase the UK’s energy security in the coming years, according to elEconomista. The agreement will see the British company purchase 1 million tonnes of liquefied natural gas (LNG) between 2025 and 2027. Under the agreement between the two companies, all of these cargoes are expected to be delivered to the Grain LNG import terminal in Kent. The deal…

Spanish economy 1st February 2024

Norges Bank increases participation in Repsol’s capital by 0.88% to 5.417%

Norges Bank, which manages Norway’s sovereign fund, has reinforced its commitment to Repsol (REP) and has raised its stake in the energy company’s capital to 5.417%, its highest position since it joined the company. Specifically, the firm has increased its participation in Repsol by 0.88% of the capital from 4.535%, which was the last position it had communicated at the beginning of this month. At current market prices, this 5.417%…

In the World 29th December 2023

Milei sets up tax associated with expropriation of YPF to pay compensation including $1.5bn payment to Repsol

BancaMarch | The Milei government is setting up a special tax in Argentina associated with the expropriation of the YPF oil company. The tax, which will be known as the “Kicillof tax” because it was imposed during the time of the Minister of Economy, Axel Kicillof, will serve to comply with the judicial sentence to which the country was condemned in September by a US court. The amount of the…

Relevant News Item 27th December 2023

Competition Commission opens proceedings against Repsol for possible abuse of dominant position by offering additional discounts

Link Securities| The Spanish National Markets and Competition Commission (CNMC) has just opened a disciplinary case against Repsol (REP) for offering additional discounts to its customers, according to the finance and business daily, Expansión. For the CNMC, this practice that the oil company has carried out through the companies Repsol Comercial de Productos Petrolíferos, S. A., Repsol Directo, S. A., Repsol Customer Centric, S. L., Solred, S. A., Campsa Estaciones…

In Spain 19th November 2023

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…

In Spain 28th October 2023

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…

Spanish economy 26th October 2023

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…

In Spain 13th October 2023

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…

World economy 8th September 2023

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…

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