Repsol CEO Josue John Imaz said yesterday that he sees “changes” regarding the possibility of improving the regulatory and tax framework in Spain, and was “a little more positive”after recently criticizing the possibility of extending the Spanish government’s special tax on energy companies over time.
In a presentation to analysts of the company’s new strategic plan, Imaz notedyou are confident that “somehow things can change in the short term”
taking into account the central government’s speech on the need for investment in the country’s energy sector. “I have a slightly more positive outlook on this than I did a few weeks ago. But we’ll wait and see,” he said.Repsol posted a net profit of 3.168 million euros in 2023, down 25.5% from the previous year, thanks to lower oil and gas prices, which skyrocketed in 2022 due to the conflict in Ukraine.
Adjusted net profit, which specifically measures the performance of a business, fell 26% in 2023 to €5.011 million, parent company Petronor said yesterday.
Repsol CEO Josu John Imaz: He said 2023 was an “outstanding year.”
achieved 7.064 million euros in cash flow from operating activities, the second highest in the company’s history, and this in an “uncertain and volatile” environment.Repsol’s investments in 2023 amounted to 6.167 million eurosof which 43% (more than 2,600 million) are for projects on the Iberian Peninsula and 3% for renewable generation assets. Among these initiatives, the oil company highlighted its commitment to the “Bilbao industrial complex”, where it will “strengthen the competitiveness of its enterprises to keep them among the most advanced in the world and create new low-carbon initiatives.” ANDGreen hydrogen is one of the protagonists of the investments planned for
Maskiz.