Repsol to invest €10Bn – most in Portugal and Spain

Repsol is to invest up to €10Bn to 2028 with the majority of it to be invested in Portugal and Spain.

The company will invest between €8.5 and €10Bn euros to 2028, with 55% destined for Portugal and Spain and 34% for the United States, according to the company’s updated projections for 2026-2028 presented on Tuesday.

For business, in exploration and production (upstream) for the period 2026-2028, the objective is to continue improving profitability, with net investments between 2,600 and 3,000 million euros, of which around 80% will be allocated to the United States, the country that leads growth in the short term.

In the industrial sector, Repsol foresees net investments of between 3,900 and 4,000 million euros by 2028, of which 40% will be allocated to low emissions initiatives. Repsol also informed that low carbon initiatives will represent 30% of total investments. The company maintains its ambition to achieve net zero emissions in the long term, after having met the target set for 2025, with a 15% reduction in the carbon intensity indicator compared to 2016.

Shaping medium-term objectives to achieve a profitable transition, Repsol set a target for 2030 of reducing the Carbon Intensity Indicator by 25%, around 55% in 2040 and 100% in 2050.

In the customer area, the company will invest between 1,400 and 1,600 million euros to concentrate efforts on consolidating leadership in traditional businesses, such as mobility, lubricants, aviation and LPG, and boosting the growth of new ones, such as electricity and gas and electric mobility.

The company explained that it will continue to evolve the business model in more than 3,800 service stations in Spain and Portugal, providing the most complete offer in the sector in energy for mobility and services of value to the customer, at the same time that it will continue to work on strengthening the distribution and commercialization of 100% renewable Nexa Diesel.

In the gas and electricity market in Spain and Portugal, where Repsol is already the fourth operator, with more than three million customers, the objective is to boost organic growth and exceed 4 million customers.

Source and Credits: Repsol