Our mission is to be an energy company committed to a sustainable world with a forward-looking vision based on innovation, efficiency, and respect, and on creating value to promote progress in society.
We are a multi-energy company operating around the globe. Our activities range from oil and gas exploration and production to refining as well as selling derived products and providing services for your everyday life, such as natural gas and electricity.
The people on our team represent our prime competitive advantage and guarantee the company's future. A flexible and committed team comprising over 25,000 employees, united by a shared vision and values.
Our facilities are a reflection of our values and company culture. Our smart buildings promote smooth communication and transparency between team members, while allowing them to be more efficient and versatile in their work.
At Repsol, we ensure integrity in the relationships the Company maintains with its suppliers and contractors. Our suppliers are a part of our team and working together enables us to continuously evolve.
We look for energy solutions that meet people's needs and safeguard their well-being. With our solid and diversified business undertakings, we stay one step ahead of the future.
Our priority is to minimize the environmental impact of our activities by optimizing water management, air emissions, waste management, and spill prevention and response, in addition to considering biodiversity a key element.
Each and every one of our decisions aims to guarantee the safety of our workers, customers, users, and suppliers. We firmly believe that all accidents can be prevented, and we develop ever-improving prevention mechanisms.
Each and every one of the actions taken by the people who make up Repsol determine the present and the future of our company. Therefore, we train our employees in core values that must govern their behavior and communicate all of our actions in a way that's reliable, transparent, and verifiable.
We are committed to managing our tax affairs by applying good practices and acting transparently. We pay our taxes responsibly and efficiently, and we foster cooperation with governments, thus avoiding serious risks and unnecessary conflicts.
We make reasonable efforts to ensure that our activities do not have negative impact on human rights, and should they occur, we do everything we can to correct them. Moreover, we do everything within our power to prevent impacts directly related to the activities of our business relationships.
The Repsol Technology Lab is an example of one of the most cutting-edge private R&D models in Spain, based on open innovation, whose objective is to seek sustainable solutions to achieve a more efficient and competitive lower-carbon business.
At Repsol, we work to bring society the highest-quality infrastructures that are also environmentally friendly. That's why we devote the entirety of our potential for innovation to developing green solutions in the asphalt industry.
Green fuel-grade petcoke is the solution for your industry. Thanks to our strong presence all across Spain and our production centers in Mediterranean and Atlantic ports, you are guaranteed a fast and flexible supply.
Our products are made using cutting-edge technology. Everything we learn in top-flight racing is then used to make lubricants that protect and prolong the life of your engine. Endorsed by top manufacturers, you'll get maximum performance and efficiency.
The products from Repsol’s Chemicals Division are used to manufacture everyday objects that improve people’s quality of life, their well-being and their safety and can be found in almost all industry segments.
A meeting and communication hub between Repsol and media professionals that originally came about with the aim to reach out to journalists interested in getting to know our company better. This interesting resource provides information regarding all of our activity around the world.
Repsol posts adjusted net income of €600 million in 2020 and advances its transformation to accelerate the energy transition
Repsol posted an adjusted net income of €600million in 2020, a year in which it presented a new Strategic Plan to boost its transformation and meet the target of zero net emissions by 2050.
In 2020, the company launched initiatives to move forward towards this goal, notably two innovative industrial decarbonization projects in Bilbao; Spain’s first advanced biofuels plant, in Cartagena; and the development of renewable assets and the international expansion of this business.
The year was marked by the unprecedented global crisis caused by COVID-19, in which Repsol prioritized its work as an essential serviceprovider by keeping its facilities in operation and guaranteeing the supply of products and services that are crucial for society.
The fall in international commodity prices had a negative impact of €978 million on the company’s inventories over the whole of 2020. Furthermore, in a year of financial prudence due to the global context, the company revised its future crude and gas price deck, adjusting downward the accounting value of exploration and production assets with a special item correction of €-2.911 billion. This impacted the net income for 2020 that was €-3.289 billion.
Repsol demonstrated its strength in this difficult scenario with a positive cash flow of €1.979 billion and a net debt reduction of €1.178 billion over the year to €3.042 billion.
Repsol’s Board of Directors yesterday approved to call for the company’s Annual General Shareholders' Meeting to be held on March 26, probably on second call.
Josu Jon Imaz, CEO of Repsol
“In 2020, we faced an unprecedented scenario and laid the groundwork for the company's future. We have again demonstrated the robustness of our project, assumed an essential public service role, and confirmed, once again, that our company is useful to society.”
“The industry has demonstrated that it is part of the backbone of the Spanish economy and one of its main driving forces. It plays a crucial role in the recovery from the crisis, and also in contributing to a more decarbonized world, using all available technologies.”