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Repsol (REPYY) Advances Decarbonization in the Transport Sector
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Repsol (REPYY - Free Report) has started large-scale production of renewable fuels at its first plant in the Iberian Peninsula. The new plant located in Cartagena, Spain, is dedicated to the production of 100% renewable fuels from organic waste such as used cooking oil or agri-food waste. It can produce renewable diesel and sustainable aviation fuels, which can be utilized by various means of transport, including cars, trucks, buses, ships and airplanes.
Repsol has invested €250 million for the construction of the new unit in Spain. The plant, with a production capacity of 250,000 tons per year, can process around 300,000 tons per year of organic waste.
According to Repsol, the production of renewable fuels in Cartagena will prevent emissions of 900,000 tons of CO2 per year. Renewable fuels significantly decrease net emissions by approximately 90% due to their lower carbon intensity compared to the conventional mineral fuels.
Repsol has taken a significant step toward decarbonization of the transport sector in the Iberian Peninsula. By recycling organic waste to produce renewable fuels, the company is providing a quick and cost-efficient decarbonization solution.
Repsol currently operates renewable fuel supply stations in more than 140 locations in Spain and Portugal. The company aims to expand its network of renewable fuel supply stations to 600 and 1,900 by the end of this year and 2027, respectively. It plans to inaugurate a second plant in Puertollano for the production of 100% renewable fuels by 2025.
In Spain and Portugal, Repsol has formed strong partnerships with leading companies in the heavy road transport sector for supplying renewable fuels. In addition, it has formed alliances with companies in the passenger transport sector in Spain and major airlines, including Iberia, Ryanair, Vueling and Air Europa, for the supply of renewable fuels for commercial flights.
Repsol is certified under two major sustainability schemes — the ISCC-EU Voluntary Sustainability Scheme and the Spanish National Sustainability Verification System. These certifications ensure the traceability and production of sustainable biofuels that meet the criteria set forth by Renewable Energy Directive standards.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Hess Midstream LP owns, operates, develops and acquires a wide range of midstream assets, providing services to Hess and other third-party customers. The partnership has a stable fee-based revenue model secured via long-term commercial contracts. Since Hess Midstream operates through 100% fee-based contracts, it is exposed to minimal commodity price risks.
Helmerich & Payne is primarily involved in the contract drilling of oil and natural gas, with operations in all major U.S. onshore basins as well as South America, Australia and the Middle East. In the past months, the company has secured eight new rig contracts with Saudi Aramco, thereby expanding its presence in the Middle East. With plans to capitalize on unconventional drilling growth opportunities, HP’s outlook seems positive.
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Repsol (REPYY) Advances Decarbonization in the Transport Sector
Repsol (REPYY - Free Report) has started large-scale production of renewable fuels at its first plant in the Iberian Peninsula. The new plant located in Cartagena, Spain, is dedicated to the production of 100% renewable fuels from organic waste such as used cooking oil or agri-food waste. It can produce renewable diesel and sustainable aviation fuels, which can be utilized by various means of transport, including cars, trucks, buses, ships and airplanes.
Repsol has invested €250 million for the construction of the new unit in Spain. The plant, with a production capacity of 250,000 tons per year, can process around 300,000 tons per year of organic waste.
According to Repsol, the production of renewable fuels in Cartagena will prevent emissions of 900,000 tons of CO2 per year. Renewable fuels significantly decrease net emissions by approximately 90% due to their lower carbon intensity compared to the conventional mineral fuels.
Repsol has taken a significant step toward decarbonization of the transport sector in the Iberian Peninsula. By recycling organic waste to produce renewable fuels, the company is providing a quick and cost-efficient decarbonization solution.
Repsol currently operates renewable fuel supply stations in more than 140 locations in Spain and Portugal. The company aims to expand its network of renewable fuel supply stations to 600 and 1,900 by the end of this year and 2027, respectively. It plans to inaugurate a second plant in Puertollano for the production of 100% renewable fuels by 2025.
In Spain and Portugal, Repsol has formed strong partnerships with leading companies in the heavy road transport sector for supplying renewable fuels. In addition, it has formed alliances with companies in the passenger transport sector in Spain and major airlines, including Iberia, Ryanair, Vueling and Air Europa, for the supply of renewable fuels for commercial flights.
Repsol is certified under two major sustainability schemes — the ISCC-EU Voluntary Sustainability Scheme and the Spanish National Sustainability Verification System. These certifications ensure the traceability and production of sustainable biofuels that meet the criteria set forth by Renewable Energy Directive standards.
Zacks Rank and Key Picks
Currently, REPYY holds a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Archrock Inc. (AROC - Free Report) , Hess Midstream LP (HESM - Free Report) and Helmerich & Payne (HP - Free Report) . Archrock presently sports a Zacks Rank #1 (Strong Buy), while Hess Midstream and Helmerich & Payne carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Hess Midstream LP owns, operates, develops and acquires a wide range of midstream assets, providing services to Hess and other third-party customers. The partnership has a stable fee-based revenue model secured via long-term commercial contracts. Since Hess Midstream operates through 100% fee-based contracts, it is exposed to minimal commodity price risks.
Helmerich & Payne is primarily involved in the contract drilling of oil and natural gas, with operations in all major U.S. onshore basins as well as South America, Australia and the Middle East. In the past months, the company has secured eight new rig contracts with Saudi Aramco, thereby expanding its presence in the Middle East. With plans to capitalize on unconventional drilling growth opportunities, HP’s outlook seems positive.