BAKU, Azerbaijan, October 31. Spanish energy company Repsol plans to develop projects worth €11.5 billion in Spain through 2030, the company said on October 29.
Of the total investment, about 60% (approximately €7 billion) will be directed to initiatives in or around Repsol’s major industrial complexes, which rank among Europe’s most advanced refining assets. Key projects include new renewable hydrogen plants and a third facility producing fuels from 100% renewable feedstocks, complementing existing plants in Cartagena and Puertollano.
In the first nine months of 2026, Repsol reported net income of €5.006 billion, including a positive inventory effect of €943 million driven by higher crude prices. Adjusted net income reached €5.419 billion. The company allocated nearly €3.7 billion to boosting crude and refined product inventories, helping secure supplies of diesel and jet fuel in a tight market.
Repsol has also extended customer discounts at its service stations for an additional month, having already spent close to €100 million on the programme since late March. The company’s tax contribution so far this year totals €10.5 billion, of which 72% (€7.5 billion) was generated in Spain.
CEO Josu Jon Imaz said the investment plan underscores the company’s confidence in Spain.
“In a highly volatile environment, Repsol once again demonstrates that its commitment to Spain translates into action: we are strengthening security of supply, protecting our industrial capacity, and supporting families and businesses. The €11.5 billion for projects through 2030 reflects our confidence in the country and our determination to continue generating industrial activity, jobs, investment, and value for society,” he said.
Repsol also announced a third share buyback programme of up to €950 million. Combined with earlier programmes, total shareholder distributions for 2026 are expected to reach approximately €3 billion, benefiting around 400,000 shareholders, the majority of them minority investors based in Spain.
