Saudi Aramco's talks to buy stake in Repsol's renewables unit have stalled - Reuters

[Logo and facade of Repsol, Spanish multinational energy and petrochemical company]
Manuel Milan/iStock Editorial via Getty Images

Talks over a potential €1 billion ($1.2 billion) investment by Saudi Aramco (ARMCO [https://seekingalpha.com/symbol/ARMCO]) in Spanish energy company Repsol's (OTCQX:REPYF [https://seekingalpha.com/symbol/REPYF]) (OTCQX:REPYY [https://seekingalpha.com/symbol/REPYY]) renewables business have reached a dead end [https://www.reuters.com/sustainability/climate-energy/saudi-aramcos-talks-buy-stake-repsols-renewables-unit-hit-impasse-sources-say-2025-09-23/], and there are no current plans to resurrect them, Reuters reported Tuesday.

The talks began last year, when Reuters reported that Repsol (OTCQX:REPYF [https://seekingalpha.com/symbol/REPYF]) (OTCQX:REPYY [https://seekingalpha.com/symbol/REPYY]) had received an unsolicited approach for a minority stake in its renewable assets unit, which UBS analysts have valued at ~$6.6 billion.

Repsol (OTCQX:REPYF [https://seekingalpha.com/symbol/REPYF]) (OTCQX:REPYY [https://seekingalpha.com/symbol/REPYY]) is one of the few European oil companies that still aims to spend on renewables, after BP and other European oil majors have pulled back from plans to build out greener technologies because they have proved less profitable than drilling for oil and gas.

CEO Josu Jon Imaz told analysts recently that Repsol (OTCQX:REPYF [https://seekingalpha.com/symbol/REPYF]) (OTCQX:REPYY [https://seekingalpha.com/symbol/REPYY]) is moderating its renewable ambitions to prioritize returns, but in recent months the company has added production from wind and solar parks in the U.S., Chile and Spain.

MORE ON REPSOL

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