Repsol Sa Sp/Adr (REPYY) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.973 Good morning to everyone joining us today. 00:00:02.973 -- 00:00:08.497 Welcome to REPSOL's second quarter 2026 results presentation. 00:00:08.497 -- 00:00:13.621 Today's conference call will be hosted by Josu Jon Imaz, our chief executive officer, 00:00:13.621 -- 00:00:17.463 with other members of the executive team joining us as well. 00:00:17.463 -- 00:00:22.926 At the end of the presentation, we will be available for a Q&A session. 00:00:23.007 -- 00:00:28.011 Before we begin, let me remind you that during this presentation, we may make forward-looking 00:00:28.011 -- 00:00:33.133 statements based on estimates. Actual results may differ materially depending 00:00:33.133 -- 00:00:37.076 on a number of factors, as indicated on our disclaimer. 00:00:37.076 -- 00:00:41.579 With that, I will hand the conference call over to Josu Jon. 00:00:41.579 -- 00:00:45.982 Thank you, Pablo. Good morning and welcome to everyone. 00:00:45.982 -- 00:00:51.225 Repsol delivered a strong set of results and strategic execution 00:00:51.225 -- 00:00:54.010 in the second quarter of 2026. 00:00:54.010 -- 00:00:59.554 Operating under a highly volatile commodity environment shaped by a complex and evolving 00:00:59.554 -- 00:01:01.775 geopolitical scenario. 00:01:01.775 -- 00:01:06.919 Tensions, as you perfectly know, around the Strait of Hormuz disrupted 00:01:06.919 -- 00:01:12.182 energy trade flows, resulting in an estimated 1.3 billion barrels 00:01:12.182 -- 00:01:17.586 of oil supply lost due to the crisis and the shutdown of nearly 3 00:01:17.586 -- 00:01:21.368 million barrels per day of refining capacity. 00:01:21.368 -- 00:01:26.465 Despite multiple At times to deescalate the situation, agreements 00:01:26.465 -- 00:01:31.568 for the reopening ...