Repsol made a profit of EUR 2.201 billion in the first half of the year
The energy company has made more profits, partly because of the increase in the value of the oil and refined products it had in its warehouses, and because of the rise in the price of oil, these products previously purchased or stored by the company are now worth more, which has had a positive impact on the results of EUR 823 million.
Repsol Energy Company headquarters. Stock Photo: Europa Press
Repsol Energy Company has made a net profit of 2,201 million euros in the first half of the year, 265% morethan the603 million obtained in the same period of the previous year. The energy company has made more profits partly because of the increase in the value of the oil and refined products it had in its warehouses.
Thus, the adjusted net profitthat best reflects business developments reached 2,711 million euros until June, more than double the 1,155 million in the same period of the previous year, while gross operating profit ( EBITDA ) was 6,135 million euros from January to June, after an increase of 156.5% over the first half of 2025.
The energy group led by Josu Jon Imaz has stressed that these results have been achieved "in a context of high volatility in energy markets. "The company has stressed that, especially since the outbreak of the Iranian conflict, price fluctuations have intensified and supply has declined significantly.
In this context, Repsol has indicated that it has given priority to ensuring the continuity of energy supplyby allocating EUR 2.4 billion in the semester to increasing stocks of crude oil and refined products and has helped customers mitigate the impact of fluctuations in fuel prices by applying additional discounts at its service stations.
These results come in a context of rising oil prices, with tensions in the Middle East resulting in an average Brent barrel price of $92.3 in the first half of the year, compared to $71.9 last year, while refinery margins stood at $12.4 per barrel, compared to $5.6 per barrel in the first half of 2025.
In terms ofbusiness, the adjusted net profit in Exploration and Production (Upstream) is EUR 673 million, 6.7% higher than in the first half of last year, while the industrial sector is EUR 1.683 billion, thanks mainly to higher refinery margins.
In2025, however, the results of Repsol were conditioned by the fall in the price of oil, resulting in a negative property impact of EUR 394 million, as well as a blackouton the Iberian peninsula on 28 April.
At the end of the second quarter, the group's net debt was reduced to EUR 3.667 billion, EUR 1.133 billion less than at the end of the first quarter of the year. The main reason for this effort is the strong creation of the fund and the deconsolidation of debt from the sale of a portfolio of renewable energy assets in Spain.
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