Repsol swung to a quarterly profit of 722 million euros, reversing a 2024 loss, as strong earnings from its upstream and industrial divisions offset costs in Venezuela and upstream charges. The Madrid-listed shares rose over 2% on Thursday. CEO Josu Jon Imaz stated the company's priority is returning value to shareholders, announcing a potential 7.8% dividend increase to 1.051 euros per share and stable buybacks at 700 million euros. Analysts noted the adjusted profit of 705 million euros slightly beat forecasts.

Repsol also set a production target of 560,000 to 570,000 barrels of oil equivalent per day for 2025, with Alaska project output starting in March. This target replaces the 2024 average of 548,000 boe/d. The company expects Venezuela operations to see no production rise.