BAKU, Azerbaijan, October 31.
Spanish energy company Repsol plans to develop projects worth €11.5
billion in Spain through 2030, the company said on October 29.
Of the total investment, about 60% (approximately €7
billion) will be directed to initiatives in or around Repsol’s
major industrial complexes, which rank among Europe’s most advanced
refining assets. Key projects include new renewable hydrogen plants
and a third facility producing fuels from 100% renewable
feedstocks, complementing existing plants in Cartagena and
Puertollano.
In the first nine months of 2026, Repsol reported net
income of €5.006 billion, including a positive inventory effect of
€943 million driven by higher crude prices. Adjusted net income
reached €5.419 billion. The company allocated nearly €3.7 billion
to boosting crude and refined product inventories, helping secure
supplies of diesel and jet fuel in a tight market.
Repsol has also extended customer discounts at its
service stations for an additional month, having already spent
close to €100 million on the programme since late March. The
company’s tax contribution so far this year totals €10.5 billion,
of which 72% (€7.5 billion) was generated in Spain.
CEO Josu Jon Imaz said the investment plan
underscores the company’s confidence in Spain.
“In a highly volatile environment, Repsol once again
demonstrates that its commitment to Spain translates into action:
we are strengthening security of supply, protecting our industrial
capacity, and supporting families and businesses. The €11.5 billion
for projects through 2030 reflects our confidence in the country
and our determination to continue generating industrial activity,
jobs, investment, and value for society,” he said.
Repsol also announced a third share buyback programme
of up to €950 million. Combined with earlier programmes, total
shareholder distributions for 2026 are expected to reach
approximately €3 billion, benefiting around 400,000 shareholders,
the majority of them minority investors based in Spain.
