Repsol

In Spain, Spanish economy 26th May 2023

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…

World economy 25th May 2023

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,…

Companies, European economy 18th May 2023

Repsol to develop 1.7 GW of renewables in Italy with an estimated investment of €500 million

Renta 4 | Repsol to develop 1.7 GW of renewable energy projects in Italy. The project will have 943 MW of generation using wind technology and 825 MW of solar. The total cost is estimated at €500 million. Assessment: Positive impact. Repsol will develop 1.7 Gw of renewable energy in Italy with an estimated investment of €500 million. The portfolio is expected to be operational in 2025. Repsol is thus…

Spanish economy 27th April 2023

Repsol reports first quarter net income of €1.112 billion

In January, a cash dividend of €0.35 gross per share was paid out. The same amount will be proposed to the Annual General Meeting for distribution in July. With these payments, Repsol will increase cash remuneration for its shareholders by 11% in 2023, in addition to a capital reduction of 50 million shares. During the quarter, Repsol invested €1.726 billion, mainly in Spain and the United States. The company expects…

Spanish economy 3rd April 2023

Argentina ordered to pay between €8 billion and €18.2 billion for YPF expropriation, but Repsol already compensated

Bankinter | Argentina has been ordered to pay between €8 and €18.2 billion for the expropriation of YPF in 2012, Repsol (REP) will not receive any money. Repsol was compensated years ago with €5,000 million in bonds from the Argentine government and will not receive any new compensation for the application of this sentence. The compensation will be received by the law firm and funds that have financed the lawsuit,…

Spanish economy 21st March 2023

Repsol to offer electricity and gas customers 30-cent discount from April 1

Renta 4 | Repsol launches a discount of 30 cents per litre for customers who have contracted electricity, gas or butane. This offer will come into effect on 1 April. The discount will be incremental and will depend on the number of contracts the customer has with the company. Waylet, the company’s payment platform, has six million customers registered. It is the company’s key customer loyalty tool. The tool aims…

Companies, Spanish economy 20th March 2023

Repsol suspends LNG terminal project in Canada due to cost overruns

Norbolsa | Repsol has decided not to develop the Liquefied Natural Gas terminal it had projected on the east coast of Canada for European supply, as it would not be profitable due to transport costs. To reach the terminal, the gas would have to be transported thousands of kilometres from western Canada, which would require a new pipeline network through Canadian provinces and northeastern US states that have resisted fossil…

Spanish economy 7th March 2023

Repsol to buy back €900 million of its own shares

According to a note sent yesterday by Repsol to the Spanish Securities and Exchange Commission (Comisión Nacional del Mercado de Valores, or CNMV), the maximum number of shares to be acquired under the buyback programme will amount to 35,000,000, representing approximately 2.64% of Repsol’s current share capital. The maximum net investment under the programme amounts to €909,755,000, the oil company said. Repsol has explained that the acquisition of the shares…

Relevant News Item, Spanish economy 17th February 2023

Repsol announces dividend 11% increase to €0.70 per share

Repsol yesterday presented its results for the 2022 financial year. The oil company recorded profits of €4.251 billion, an increase of 70% compared to 2021. The company’s EBITDA rose to 13,813 million, up 40%. Investments amounted to 4,182 million euros. Net debt was reduced by 61% to 2,256 million and liquidity increased to €12,000 million. Regarding the dividend, Repsol announces that it will propose at the next General Shareholders’ Meeting…

Companies, Ibex, Spanish economy 8th February 2023

Repsol continues to accelerate growth of self-consumption business through Solmatch

Renta 4| Repsol (REP), through Solmatch, has more than 350 installations in Spain. Solmatch is a sustainable energy service focused on distributed or decentralised generation in Spain that was launched by the company in 2020. Repsol has agreements to develop solar communities (collective self-consumption). One of these agreements is with the Lasalle Schools, where the entities have committed to developing a total of 29 self-consumption parks in different schools located…

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