VALORES Project: Waste valorization for its incorporation in refining

Press Release 03/09/2018 07:00
  • Repsol has updated its 2016-2020 Strategic Plan after achieving all the goals set out in the plan two years ahead of schedule.
  • The renewed strategy is based on three pillars: increasing shareholder distribution; profitable business growth (Upstream and Downstream); and the development of new businesses linked to the energy transition.
  • The company will continue to increase shareholder distribution to reach 1 euro per share in 2020, with scrip dividends accompanied by share buybacks that will prevent the dilution of those who choose cash payment.
  • Between 2018 and 2020, Repsol plans to invest 15 billion euros: 53% in its Upstream unit (Exploration and Production) and 45% in Downstream (Refining, Chemicals, Marketing, Lubricants, Trading, LPG, Gas & Power) and low-emissions assets.
  • Repsol will allocate 2.5 billion euros to low-emissions energy projects and develop new long-term business opportunities.
  • The 2018-2020 Strategic Plan is self-financed at a prudent Brent price of 50 dollars per barrel, at which the company can guarantee a high degree of financial flexibility and a gearing ratio that is well below the industry average.
The main goal of the VALORES project is to develop a profitable and scalable technology to enable the use of waste that is currently disposed of in landfills such as tires, plastics, and biomass. This technology will involve the pyrolysis of the products mentioned so that they can be used in Repsol Petróleo refineries, also providing raw materials that can be used in the petrochemicals industry. This goal is aligned with the promotion of the circular economy, the reduction of waste, and the European sustainability and resource efficiency objectives. This measure has had a significant social impact as these products contain pollutants that must be eliminated previously. Although alternatives do exist, it is necessary to develop a means by which to eliminate these pollutants efficiently in order to reach the necessary specifications for the various processes carried out in refineries and chemical plants. The VALORES project has received funding from the Centre for the Development of Industrial Technology (CDTI - IDI-20170695), co-financed by the European Regional Development Fund (ERDF) as part of the Smart Growth Operational Programme 2014–2020 with the goal of enhancing research, technological development, and innovation.