Repsol signals $7bn asset sales and cost cuts
The Spanish company plans to sell off assets by 2020 and cut capital expenditure by 40% in order to reduce debt
Spain's Repsol has signalled plans to sell off €6.2bn ($7.1bn) of assets by 2020 and cut capital expenditure by 40% from 2014 levels, as it struggles to maintain dividends and reduce debt -- based on its oil price forecast of $50/barrel oil and US gas price forecast of $3.50/MMBtu, out to 2018. Under its first strategic plan since finalising its $8.3bn takeover of Canada's Talisman this May, Repsol vowed to achieve cost savings of €2.1bn/year from 2018 through efficiencies based on a $60/b upstream price in 2018-20, applying "strong capital discipline". "We are in too many countries," chief executive Josu Jon Imaz told a briefing on 15 October: "So we will try to reduce our exposure to high
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
