Repsol

Repsol is a multi-energy company committed to a customer-centric approach and a net-zero emissions energy model, based in Madrid, Spain. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It is also a major player in the Spanish electricity and gas market and operates low-emissions electricity generation assets in addition to developing a wide range of renewable solar and wind energy projects internationally. Repsol is a global, integrated company at the forefront of the international energy sector. The company operates across 35 countries.

Statement of Support

One of the principles of our fiscal and policy strategy is to enhance with tax administrations a relationship based mainly on trust, good faith, professionalism, loyalty and mutual understanding. Thus, based on these principles, we maintain a cooperative relationship with the tax administrations and participate in various tax forums of international organisations promoting collaboration with the mutual objective of facilitating the implementation of the tax system, improving tax certainty and reducing litigation.

Engagement with the EITI

Repsol has provided the data required through the EITI Standard in countries where the company has operations. It is currently part of the Guyana, Ecuador and Peru multi-stakeholder group (MSG) and continues to engage through information sharing and capacity building. 

The company aims to facilitate the application of the tax system, increase legal security and reduce litigiousness based on reciprocity in their relationships. The Global Sustainability Plan of Repsol contains tax objectives to be recognized as a Company that practices integrity and transparency in their tax affairs.

Strengthening transparency

In February 2020, the company voluntarily started making available the following reports on Repsol's website:

Country-by-country report: This country-by-country report provides the economic data connected to Repsol's performance and a description of contextualised information about the activities performed in each jurisdiction of its business model.

Report on payments to governments on oil and gas exploration and production activities (first published in 2017): In this report, the company includes a project by project payments to governments in the countries where Repsol has a presence.

Self-assessment of Repsol's performance under the GRI 207 standard: Repsol has also performed an evaluation under the Global Reporting Initiative (GRI ) 2017 addressing the topic of tax. 

Cooperative Relationships: The report includes a summary of its participation at different international tax organisations and the main initiatives developed by Repsol in this area.

Tax contribution by country: Repsol is aware of its responsibility for the social and economic welfare of the countries where it operates and, accordingly, is committed to the responsible payment of taxes that supports the progress and development of such countries.

Tax Control Framework report: Repsol´s tax management consists of a tax governance and control framework based on four pillars describe in this report.

Learn more about Repsol's reporting on the company's website

Link to the statement of support on Repsol's website

Statement of support to the EITI on Repsol's website