The Spanish oil and gas company Repsol has released its 2023 results, posting a net income of €3.17bn (-25% compared to 2022). Repsol produced 599 kboe/d of hydrocarbon in 2023 (+9%), including 394 kboe/d of natural gas (+7.9%) and 205 kb/d of liquids (+11%). Most of Repsol's crude oil output came from the Americas (54%), the Middle East (13%) and West Africa (12%), with the remainder coming from Europe (11%) and North Africa (10%). The company processed 42 Mt of crude oil in 2023 (-0.2%) and sold 1.9 Mt of oil products (-22%) mainly to its European market (82%).
Repsol owns and operates 5 GW of power generation capacity (+29%, thanks to the commissioning of 789 MW of solar PV and 347 MW of wind projects), with another 3.3 GW under development. The group generated a total of 8.7 TWh (-0.2%, with 55% from CCGT power plants) in 2023, including 4.5 TWh in Spain (+4.7%). It aims to add 2 to 3 GW of new capacity in both its Iberian and international portfolios in the 2024-2027 period.
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