Business
Repsol S A : Chairman asserts the role of refining as a strategic industry for Spain and for Europe
Repsol S A : Chairman asserts the role of refining as a strategic industry for Spain and for
About this update from Repsol Sa
Throughout his speech, he proposed that the European Union remove barriers to investment and commit to the financing of infrastructures and industries related to oil and gas. In addition, the Chairman of Repsol called for not imposing excessive costs on European industry and for regulation to incentivise renewable fuels on an equal footing with renewable electricity. Antonio Brufau highlighted the importance of supplying energy that citizens and industries can afford, for which it will be necessary to continue producing oil and gas, diversify energy imports, commit to renewable energies and develop emerging technologies, such as synthetic fuels. Competitive shareholder remuneration Repsol's CEO, Josu Jon Imaz, reviewed the company's performance in 2025, as well as the update of the projections at the Capital Markets Day, held last March. Josu Jon Imaz reiterated that maintaining a "competitive and attractive" shareholder remuneration remains a priority. Over the 2026-2028 period, the company will allocate between 30% and 40% of the cash flow from operations to remunerate its shareholders, including dividends and share buybacks. "As a result of the capital reductions associated with these share buybacks, the dividend per share will increase by between 6% and 9% per year until 2028, subject to the variability of operating cash flow and the evolution of the share price," he said. In 2026, the cash dividend will increase to €1.051 per share, 7.8% more than the previous year. The CEO stressed that Repsol leads its sector in terms of shareholder returns. In fact, last year, the total return for shareholders reached 47%, compared to an average of 14% for its European peers. In terms of business priorities, the Exploration and Production area will continue to prioritize free cash generation, supported by efficient project execution and active portfolio management, with more than 80% of the investment going to the United States. The goal is to reach an average of between 580,000 and 600,000 barrels of oil equivalent per day.