Strategic Plan

Capital Markets Day

We've updated our operational and financial metrics for the 2026–2028 period, maintaining the strategic pillars of attractive shareholder remuneration, financial strength, and investment discipline.

A strategy for the current context and looking forward

We continue to strengthen our multienergy profile while supplying all the energy that society needs. We leverage our strengths to continue creating value: industrial leadership and a vertically integrated model, mainly in Spain and Portugal. This unique competitive proposition strengthens business resilience and ensures security of supply.

Our four main pillars of activity consolidate our presence throughout the value chain.

Upstream

We increase production, driven mainly by projects in the United States and Brazil.

Industrial

We strengthen our assets to secure supply and consolidated our renewable fuels business.

Client

We strengthen our traditional business while promoting new initiatives, building a platform that goes beyond energy.

Low Carbon Generation

We increase our renewable capacity and maximize value through the entry of partners.

Repsol has the right strategy to drive continued growth, even in a volatile environment, supported by an integrated model, a balanced mix of conventional and low-emission businesses, and a diversified portfolio of assets. Our evolution to consolidate ourselves as a multienergy company is a differential element that will allow us to keep creating value and be well prepared for the road ahead."

Josu Jon Imaz - CEO (Capital Markets Day, March 10, 2026)

Watch livestream (recorded)

Josu Jon Imaz hablando en una conferencia

Main figures

€3.6 billion*

in cash dividend through 2028.

€8.5 B to €10 B

investments in the 2026–2028 period.

>30%

planned investments in low-carbon initiatives.

€18 B

cash flow from operations in the 2026–2028 period.

_{*Between 30 and 40 percent of cash flow from operations annually in the period, according to the central macroeconomic scenario presented by the company.}