Repsol obtained a net result of 366 million euros in the first quarter of 2025, which meant 62.2% less compared to the same period of the previous year, according to the results communicated this morning to the CNMV.
The oil company justified this deterioration by “a global context marked by uncertainty and geopolitical and commercial tensions, as well as by volatility in energy markets, with a breeze price of the Brent downward, with an average of 76 dollars per barrel in the quarter, and reduced refining and chemistry margins.” In any case, he clarified that the adjusted result, which specifically measures business performance, stood at 651 million euros, with an annual adjustment of 48.6%.
In these adverse circumstances, Repsol acknowledges that he has had to adapt his investment strategy to the new economic context, “optimizing its portfolio with active management in the exploration and production business and in renewables.” Thus, of the 2,000 million euros that he planned in divestments, he has completed 700 million, 35%, only in the first quarter. Among them highlighted the agreement with Neo Energy to combine its exploration and production assets in the United Kingdom through a exchange of shares, for which Repsol will have 45% and neo the remaining 55%. The forecasts that it manages is that the joint company will be one of the largest independent producers of oil and gas in the North Sea of the United Kingdom, with an expected production of 130,000 equivalent barrels of oil per day by 2025.
The oil company Repsol also confirms in the results its commitment to raise the remuneration to cash shareholders and projects a total remuneration for this year, including dividends and repurchase of shares, between 30% and 35% of the cash flow of operations. The first step was taken on January 14 with the payment of a cash dividend of 0.475 euros gross per share and the objective is to reach a total of 0.975 euros gross per share in 2025, which would mean an increase of 8.3% compared to 2024.
