Repsol seeks to secure Venezuelan operations and debt recovery

Repsol is actively managing its operations and financial exposure in Venezuela by maintaining close communication with both the Venezuelan government and the United States administration. Following a period of regulatory uncertainty, the Spanish energy company is working to secure its business interests and recover significant debts.

As of the end of the first half of 2026, Repsol's total asset exposure in Venezuela has risen to 361 million euros, up from 276 million euros at the close of 2025. This figure includes investments in Cardón IV and Petroquiriquire, as well as receivables from PDVSA. Specifically, commercial accounts with PDVSA have reached 4.08 billion euros, with 3.295 billion euros provisioned.

Despite these financial pressures, Repsol has maintained production stability, averaging 71,400 barrels of oil per day in the first half of the year. The company's activities are being conducted under general licenses issued by the U.S. Treasury's Office of Foreign Assets Control (OFAC), which authorize energy sector operations involving PDVSA and other state-controlled entities within the legal framework established by the United States.