REPSOL'S INVESTMENT: €15 BLN

REPSOL - Repsol updates its Strategic Plan, focused on growth and value creation in any scenario

• Repsol has updated its 2016-2020 Strategic Plan after achieving all the goals set out in the plan two years ahead of schedule.
• The renewed strategy is based on three pillars: increasing shareholder distribution; profitable business growth (Upstream and Downstream); and the development of new businesses linked to the energy transition.
• The company will continue to increase shareholder distribution to reach 1 euro per share in 2020, with scrip dividends accompanied by share buybacks that will prevent the dilution of those who choose cash payment.
• Between 2018 and 2020, Repsol plans to invest 15 billion euros: 53% in its Upstream unit (Exploration and Production) and 45% in Downstream (Refining, Chemicals, Marketing, Lubricants, Trading, LPG, Gas & Power) and low-emissions assets.
• Repsol will allocate 2.5 billion euros to low-emissions energy projects and develop new long-term business opportunities.
• The 2018-2020 Strategic Plan is self-financed at a prudent Brent price of 50 dollars per barrel, at which the company can guarantee a high degree of financial flexibility and a gearing ratio that is well below the industry average.

-----

Earlier:

2018, May, 4, 15:00:00 REPSOL NET INCOME €610 MLN REPSOL - Repsol posted net income of 610 million euros in the first quarter of 2018. Adjusted net profit, which specifically measures the performance of the company’s business units, increased to 616 million euros.

2018, March, 28, 10:50:00 NORWAY'S OIL THREAT BLOOMBERG - The government has paid out 109 billion kroner ($14 billion) since 2005 to explorers such as Lundin Petroleum AB and Repsol SA. It helped attract more companies to Norway, nearly doubling the pace of exploration and leading to key discoveries such as the multi-billion-barrel Johan Sverdrup field.

2017, December, 20, 19:05:00 REPSOL'S INVESTMENT NOK 8 BLN NPD - On Tuesday, operator Repsol submitted a new Plan for Development and Operation (PDO) for the Yme field in the North Sea. More eight billion kroner will be invested in the development. The planned start-up is 2020.

2016, June, 22, 18:00:00 REPSOL VS SINOPEC: $5.5 BLN The claim relates to a U.K. joint venture between the Chinese and a Canadian firm which the Spanish oil producer acquired last year.

2016, May, 5, 18:35:00 REPSOL NET INCOME €572 MLN Adjusted net income was 572 million euros, compared with 928 million in the same quarter of the previous year, which included exceptional earnings of 500 million euros due mostly to the company’s dollar position after receiving funds for the expropriation of YPF, subsequently used for the acquisition of Talisman.

2015, December, 11, 19:45:00 STATOIL & REPSOL TRANSACTIONS Statoil and Repsol announce transactions in Norway, UK, US and Brazil

2015, October, 19, 19:10:00 REPSOL WILL SELL $7.1 BLN, CUTS 38% Repsol SA said Thursday it will sell €6.2 billion ($7.1 billion) of noncore assets through 2020 as part of a cost-cutting drive, which also includes a significant cut in oil-exploration spending.