Repsol

Nineteen oil companies, including Spain's Repsol and Colombia's Ecopetrol, have been approved to bid in Brazil's upcoming pre-salt hydrocarbon license auction. The National Agency for Petroleum, Natural Gas and Biofuels (ANP) announced the list of qualified firms in the Official Gazette.

Twin earthquakes of magnitude 7.2 and 7.5 struck north-central Venezuela on June 24, the strongest in over a century, causing over 200 deaths and 1,500 injuries. Oil companies Chevron, Eni, Repsol, and Shell reported no damage to their Venezuelan operations, but the disaster is expected to impact the country's budget.

Spain’s Repsol signed an agreement to study a new oil area in Venezuela called Horcón, focusing on exploration rather than restarting existing fields. A planned offshore drilling campaign is scheduled from 2028 into the early 2030s.

Venezuela seeks to revive its oil industry as US licenses allow major firms like Chevron, BP, Eni, Repsol, and Shell to operate again in 2026. However, skilled engineers required to run oil fields have largely left the country, prompting companies such as Halliburton and Chevron to actively recruit them.

The US eased sanctions on Venezuela, allowing Western oil majors like Chevron, Shell, BP, Eni, Repsol, and Maurel & Prom to resume operations. Shell is advancing offshore gas projects, and service firms are returning as royalties and taxes must now flow.

Repsol and BP are accused of market abuse by a Spanish fuel firm rival. The allegations involve potential anti-competitive practices within Spain's refining industry.

Eni and Repsol have reached a deal to begin exporting Venezuelan gas by 2031. The agreement involves collaboration between the two energy companies to develop gas projects in Venezuela.