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 2018-2020 Strategic Plan is focused on growth and value creation and is based on three pillars: increasing shareholder distribution, growing our businesses (Upstream and Downstream), and developing new businesses linked to the energy transition.
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 adjusts its results to become a net zero emissions company by 2050
Repsol is orienting its strategy to become a net zero emissions company by 2050, the first in its sector to set this ambitious target.
The company has assumed new crude oil and gas price scenarios consistent with the climate targets of the Paris Agreement, which entails an adjustment of 4.849 billion euros in the accounting value of the Group’s assets. This has impacted the 2019 net income, which was -3.816 billion euros.
The adjusted net income, which measures the performance of the company’s businesses, totalled 2.042 billion euros, demonstrating their soundness even in a context of low crude oil and gas prices and narrower industrial margins.
Operating cash flow maintained positive momentum throughout the year and totalled 5.837 billion euros, 8% more than the previous year, as a result of a strategy that allowed the company to overcome an adverse environment.
Solid cash generation allows Repsol to advance in its commitment to actively fight climate change and, at the same time, maintain its remuneration policy, which is one of the most attractive in the Spanish stock market and its sector. In 2020, this includes proposing to the General Shareholders’ Meeting an additional improvement through the amortization of 5% of the company’s share capital.
The Downstream unit posted earnings of 1.456 billion euros, in a year in which it maintained its focus on innovation, internationalization, and emissions reductions, with milestones such as the incorporation of four new renewable energy projects and surpassing one million electricity and gas customers.
The Upstream unit earned 1.050 billion euros with production of 709,000 barrels of oil equivalent per day, in alignment with the strategic vision of prioritizing value creation.
Operating cash flow increased by 8%
Capacity of renewables projects under development
One million electricity and gas customers surpassed, a 33% increase on its starting base
"As an industry, we need to supply clean and affordable energy to society, and at Repsol we are working to be at the forefront of this transition towards lower carbon intensity." Josu Jon Imaz, Repsol CEO