Repsol

Repsol is an energy company based in Madrid, Spain. It operates across 35 countries with over 25,000 people who work on building a sustainable future. 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. Repsol is a global, integrated company at the forefront of the international energy sector.

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 multi-stakeholder group (MSG) and continues to engage through information sharing and capacity building. 

Repsol collaborates with tax administrations in detecting and searching for solutions to fraudulent tax practices, facilitates access to information and prioritising non-litigious means of resolving conflicts. The company aims to facilitate the application of the tax system, increase legal security and reduce litigiousness based on reciprocity in their relationships.

Strengthening transparency

Repsol wants to be recognised as a company that practices integrity and transparency in its tax affairs. 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: This is a complimentary report to the previous one, fully aligned with EITI requirements. In this report, the company includes a project by project detail of all payments to the governments of the countries in which Repsol has a presence. 

Self-assessment of Repsol's performance under the GRI 207 standard: Repsol has also performed an evaluation under the GRI 2017 addressing the topic of tax. In particular, disclosure 207-1 approach to tax, disclosure 207-2 tax governance, control and risk management, disclosure 207-3 stakeholder engagement and management of concerns related to tax and disclosure 207-4 country-by-country reporting.

Link to the statement of support on Repsol's website

Statement of support to the EITI on Repsol's website