Spanish energy group Repsol has published its 2025 results (Repsol press release, 19/02/2026). According to the report, Repsol’s year was “solid” despite a challenging international context that affected the energy markets, recording a net income of almost EUR1.9bn in 2025 (+8% compared to 2024).
In its upstream area, Repsol focused on the optimisation of its portfolio that required its exit from Colombia and Indonesia to concentrate in “geographies with greater competitive advantages” such as the United States, where it has been awarded with 57 exploration blocks (45 in Alaska and 12 in the Gulf of Mexico), and has achieved first oil in its Leon & Castile offshore oil field in Louisiana. The company plans to start in March 2026 its 80 kb/d Pikka project in Alaska.
In the United Kingdom, Repsol formed NEO NEXT+ a JV with NEO Energy and TotalEnergies UK that merged their exploration and production assets to form the “largest independent oil and gas producer in the UK”. NEO NEXT+ is expected to reach a gross production of about 250 kboe/d in 2026.
Repsol reached a 548 kboe/d average production in 2025 (-4%), including 188 kb/d of liquids (-4%) and 2 mcf/d (20.8 bcm/year) of gas (-4%). The company expects to continue improving its upstream portfolio during 2026 to reach between 560 kboe/d and 570 kboe/d, since it has already been awarded with two new exploration blocks in Libya and it contemplates the possibility to start gas and oil operations in Venezuela.
The company produced 100% renewable gasoline for the first time at industrial scale during the year and started the construction of Puertollano (200 kt/year), its second renewable fuels plant expected to start operations in 2026. It also reached an FID on its first two large-scale electrolysers (100 MW each) in Cartagena and Bilbao (Spain). In 2026 Repsol plans to build the Ecoplanta in Tarragona (Spain), a project to transform urban waste into renewable fuels and circular products scheduled to start operating in 2029 with a capacity to produce 240 kt/year of methanol.
A total of 2.2 GW of new renewable generation capacity in Spain, the United States, and Chile, with its global portfolio reaching a total of 5.9 GW. The company has also partnered up with Schroders Greencoat in Spain for a 400 MW wind and solar portfolio and with Stonepeak in the US for two solar portfolios of 777 MW and 629 MW. In Spain, Repsol also plans to hybridise the 818 MW Escatrón CCGT power plant with the addition of 805 MW of wind power to supply a future data centre.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.