Repsol plans to develop projects in Spain worth €11.5 billion by 2030. The oil company, which achieved a net result of €5.006 billion between January and September, will allocate 60% of that figure to its major industrial centres.
The energy company Repsol expects to invest €11.5 billion in projects in Spain by 2030, according to reports from miciudadreal.es based on the company's statement. The plan aims to strengthen supply security, boost industrial activity, and advance towards products with a lower carbon footprint.
The company announced the plan after closing the first nine months of 2026 with a net result of €5.006 billion. This profit is supported by the revaluation of its inventories (+€943 million) due to the rise in crude oil prices. The adjusted net result, which measures the ordinary course of business, stood at €5.419 billion.
The CEO, Josu Jon Imaz, stated in the announcement:
“In a highly volatile environment, Repsol once again demonstrates that its commitment to Spain translates into action: we reinforce supply security, protect our industrial capacity, and support families and businesses.”
Of the total, around €7 billion (60%) will be allocated to the environments of its major industrial centres. Among the initiatives are new renewable hydrogen plants in Cartagena and Petronor (Bilbao), with a combined capacity of 200 MW, the Ecoplanta in Tarragona to produce methanol from urban waste, and a third plant for 100% renewable fuels.
In low-carbon generation, the company will promote wind, solar, and storage assets. Notably, the expansion of the reversible pumped hydroelectric plant in Aguayo (Cantabria) will add 1 GW to reach 1.4 GW. Between January and September, Repsol allocated nearly €3.7 billion to increase its crude oil and derivatives inventories to ensure national supply.
In shareholder remuneration, the company approved a third share buyback programme of up to €950 million, to be executed before the end of the year. With this, the buybacks for 2026 will reach €1.8 billion and the total remuneration will be around €3 billion, benefiting approximately 400,000 investors.
The company's total tax contribution in the first nine months was €10.5 billion, of which €7.5 billion (72%) corresponds to taxes paid or managed in Spain. For the end customer, the energy company is extending for one month, until 30 November, its discounts at service stations with the Waylet app and the Solred card, a measure to which it has allocated nearly €100 million since March.
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