Repsol’s new Strategic Plan accelerates the energy transition

Press Release 26/11/2020 15:15
  • Repsol today unveiled its 2021-2025 Strategic Plan which will transform the company in the following years, accelerating the energy transition and ensuring return and the highest value for shareholders.
  • The new strategy outlines a challenging roadmap with more ambitious intermediate emissions cuts targets to successfully achieve zero net emissions by 2050. Repsol will decarbonize its asset portfolio and establish a new operating model.
  • The new strategic plan contemplates investment of €18.3 billion between 2021 and 2025, of which €5.5 billion – 30% – will be spent on low-carbon businesses.
  • The renewed strategy is self-financing at an average $50 per barrel of Brent and $2.5 per MBtu at the Henry Hub. At these prices, the company can generate cash to cover investments and dividends throughout the period, without increasing debt from current levels.
  • Repsol will evolve its organization into four business areas (Up-stream, Industrial, Customer, and Low-Carbon Generation), supported by more efficient corporate and service units to favor differentiated results and value crystallization.
  • The company will maintain shareholder distribution amongst the most attractive in the industry and the Spanish Ibex-35 Index, combining a cash dividend with share buy-backs. The cash dividend will be set at €0.60 per share and rise to €0.75 per share. Including buybacks, it can exceed €1 per share in 2025.