Repsol

History

2023: Repsol asks EU authorities to stop buying Russian oil through intermediaries

Russian oil continues to flow to Europe through third countries, despite the sanctions. This was announced by the director of the Spanish energy company Repsol. He called for tougher restrictions to eliminate this possibility. "We ask the European authorities to stop these imports through intermediaries," John Imaz told Josu.

2022

Sale of Russian assets of Gazprom Neft

On May 23, 2022, it became known that the Spanish oil and gas company Repsol sold the Russian assets of Gazprom Neft. So, they were sold in the projects "Eurotek-Ugra" and "ASB Geo" in the Khanty-Mansiysk Autonomous Okrug, Kommersant reports with reference to the Unified State Register of Legal Entities. Transaction parameters are not disclosed. It is known that previously Repsol owned 68% in Eurotek-Ugra and 50.01% in ASB Geo. Read more here.

Spill of 11 thousand barrels of oil into the ocean in Peru

An oil spill near Peru's shores on January 15, 2022, affected directly or indirectly more than 700,000 Peruvians, severely damaged the environment and polluted several of the country's beaches.

An examination conducted on the damage to the Repsol pipeline in Mar de Ventanilla, which led to an oil spill into the ocean, found that the cause of the disaster was a production failure.

According to the examination, the pipeline was not built in accordance with the 2013 production drawings that Repsol submitted to prosecutor Ariel Tapia, who is responsible for investigating the spill of 11 thousand barrels of oil that occurred on January 15, 2021.

"Production drawings issued by Relapasa (Repsol) in 2013 indicated that the nozzles should be welded to the pipeline by butt welding with preparation of a V-joint to ensure full penetration, which did not happen," said an expert report by Aldo Valera Morales, commissioned by the Repsol watchdog.

The malfunction stemmed from its parts failing to withstand the pressure caused by the abrupt movement of the Italian vessel Mare Doricum while unloading oil on January 15.

"In this state, when tensile and bending loads are applied by the displacement of the vessel, the forces created were mainly directed to the welding seams, which represented the smallest strong section of the pipeline, causing the destruction of the welded joint on both nozzles," the expert report specifies.

2021: Withdrawal from Russia due to decarbonization strategy

In December 2021, it became known that the Spanish company Repsol, which was a major investor in Russian oil and gas, would leave Russia. By the end of the year, it will sell its remaining assets to Gazprom Neft. Experts attribute the investor's decision to a change in the company's global carbon neutrality strategy. This is the first departure of a foreign investor due to decarbonization.