Strategy

The company will allocate 2.5 billion to low-emission projects
Image milestone Strategy
We have updated our Strategic Plan

Last year, Repsol presented an update to its Strategic Plan for the 2018-2020 period, which was geared towards growth and value creation in any scenario. The update is based on three pillars: an increase in shareholder return; profitable business growth (Upstream and Downstream); and the development of new low-emission businesses.

In line with the company's prudent criteria, the Strategic Plan is self-financed at Brent price of 50 dollars per barrel, a price at which Repsol is capable of maintaining a high degree of financial flexibility and gearing ratio that is well below the industry average. Repsol will lead the industry in terms of shareholder return, which will rise by an annualized average of 8%, up to an equivalent of 0.95 euros per share in 2019 and one euro in 2020.

Between 2018 and 2020, Repsol plans to invest 15 billion euros: 53% earmarked for its Upstream unit (Exploration and Production) and 45% in Downstream (Refining, Chemicals, Trading, Gas Wholesale and Trading, Marketing, LPG, Lubricants, Asphalts and Specialized Products, and Electricity and Gas).

By 2020, Repsol will invest 2.5 billion euros in energy projects with low CO2 emissions. Furthermore, the company will reduce emissions by 2.1 million tons of CO2 equivalent by 2020 compared to 2014 and will develop new long-term business opportunities to tackle the energy transition successfully.