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Strategy update: Repsol's Low Carbon Day

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18 October 2021

Strategy update: Repsol's Low Carbon Day

Report summary

Repsol’s Low Carbon Day provided more evidence of accelerating decarbonisation momentum. An expanded low carbon budget will account for 35% of overall spend out to 2025 – higher than any peer. The company also guided for much stronger growth in renewable power and hydrogen which flowed through to upgraded interim emissions reduction targets. The transformation of legacy industrial sites to low carbon ‘energy parks’ will be vital to ensuring sustainability. Delivering growth in renewable power and the customer-centric business are also strategic priorities. But a lot of hard work in derisking the hybrid business model lies ahead.

Table of contents

  • Executive Summary
  • Increasing low carbon investment to accelerate the portfolio pivot
  • 2) Bigger renewable power growth ambitions
  • 4) Leveraging sub-surface expertise into low-carbon opportunities
  • Is the market rewarding accelerated decarbonisation?

Tables and charts

This report includes 8 images and tables including:

  • Low carbon investment: % of overall spend versus annual absolute spend
  • Shrinking Iberian oil product demand – an opportunity or a threat?
  • European refiners: corporate NCM* vs Capacity (2019)
  • Wood Mackenzie’s estimate of commercial renewable capacity and Repsol’s upside potential from Hecate
  • Market premium-discount to WM base case valuation

What's included

This report contains:

  • Document

    Strategy update: Repsol's Low Carbon Day

    PDF 1.36 MB