A global multi-energy company
Our presence across the entire value chain, from exploration activities to the marketing of our products, and our commitment to advancing towards the energy transition ensures our position at the forefront of the oil and gas industry.
The progress we have made in fulfilling our strategy has made us stronger in any given price scenario. As a result, the 2018-2020 Strategic Plan is self-financed at $50/barrel (Brent crude) – the price at which the Company can guarantee high financial flexibility and a gearing ratio well under the industry average.
The strength of the our earnings and cash flow generation have driven the Company to propose an increase in shareholder remuneration. To this end, the Board of Directors will propose to the next Annual General Meeting the cancellation of 5% of the company’s outstanding shares in addition to those already linked to the scrip dividend.
More information is provided in the second quarter 2019 financial results official notice.