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…
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…
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…
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…
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…
Renta 4 | Repsol has obtained a 120 million euros loan from the European Investment Bank, which will be earmarked for financing the company’s biofuels plant in Cartagena, Murcia. The investment for the C43 project would be180 million euros, according to Repsol. It has already announced it would carry out investments aimed at converting the plant into the first advanced biofuels plant with low Co2 emissions. The C43 project will…
Bankinter | Repsol has bought a portfolio of over 7.700 MW of renewable projects from Asterion Energies. The assets are located in Spain (84%), Italy (12%) and France (4%). The Spanish oil and gas company is paying 560 million euros for the portfolio, plus an additional amount of a maximum 20 million euros for contingent payments. Analyst team’s view: Positive news because: (i) it expands its position in renewables. We…
Renta 4 | Repsol has 2.000 Mw of renewable projects under construction, of which approximately 59% are located in Spain, 35% in the US and 6% in Chile. The company wants to hike its renewable energy generation to 7.500 Mw to 2025. The Spanish oil and gas firm is developing a new photovoltaic energy plant in Villena, with an installed capacity of 300 Mw. Whatsmore, the company is continuing to…
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…
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…