Repsol Signals It May Cut Spanish Investments on Tax Concerns

Oil producer Repsol SA signaled that it could cut investments in Spain if the government goes ahead with new regulatory and tax changes.

“The lack of stability of the country’s regulatory and fiscal framework may impact Repsol’s future industrial projects Spain.” the Madrid-based firm said in a statement Thursday. It said that a temporary two-year tax on energy companies approved in 2022, and which may be extended, punishes companies that are investing, creating jobs, and guaranteeing the country’s energy independence.

Acting Prime Minister Pedro Sanchez’s Socialist party and left-wing group Sumar this week unveiled a coalition agreement that includes ...