Repsol says could boost Venezuela oil output over 50% in 12 months

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After earning $1,899 million in 2025, the firm will invest in renovating infrastructure and pumps to reverse the decline of local deposits.

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Repsol takes out the calculator on its return to the Venezuelan oil market after receiving a license from the White House to resume oil and gas operations in the country. Its CEO, Josu Jon Imaz, has admitted this Thursday to investors that the company plans to increase crude oil production in the Caribbean country by more than 50% in a year. "We have the ambition and we see ample scope to achieve this goal of tripling production in three years. …

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The head of the Spanish energy giant Repsol said Thursday that his company could increase oil production in Venezuela by more than half over the next year after Washington reauthorized its operations there.Read more

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In a conference with analysts on the occasion of the presentation of the 2025 results, Imaz said that Repsol has "the ambition" and sees way to achieve that goal of tripling production in three years, although he stressed that "the important thing is to put the focus on the short term", with the initial goal of increasing oil production by 50% this year.

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The Spanish oil company Repsol plans to increase crude crude oil production in Venezuela by more than 50% in a year. This was announced by the CEO of petrochemicals, Josu Jon Imaz, in a conference with investors. This company was also impacted by Unilateral Coercive Measures that illegally imposed the gringo regime against Venezuela. In March 2025, the U.S. empire notified that industry, that its permits to export crude oil and derivatives from …