Repsol's Green Dividend

Copyright © 2021 Energy Intelligence Group

Spanish Repsol's lubricants, retail and renewable power businesses outperformed traditional oil and gas production and refining in the third quarter. Adjusted income from the company's Commercial and Renewables segment totaled €169 million ($198 million) in the third quarter, compared with €51 million for its upstream business and a loss of €67 million from its refining division. Repsol, like its European peers, has sought to reorganize itself to better emphasize its growing energy transition business lines (NE Jul.30'20). The third quarter marked the second straight quarter when those activities outperformed traditional production and refining. CEO Josu Jon Imaz highlighted the stable revenues they deliver as a key benefit, offsetting the volatility in hydrocarbon revenues.

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