Spain's Repsol has received a license from the U.S. Treasury Department authorizing the energy company to continue and expand its oil and gas business in Venezuela, sources close to the decision said on Thursday. Repsol has several joint ventures with Venezuela's state oil company PDVSA to produce crude and gas in the country. A U.S. official said this week that Washington is reviewing up to 50 individual license requests to do energy businesses in Venezuela.
Spanish oil company Repsol is in negotiations to sell a stake in its renewable energy unit, a move to help fund its strategic plan through 2027, according to four sources with knowledge of the talks. The company has received an unsolicited approach by an investor and has lined up Santander as advisor for the sale, the sources said. Repsol would keep more than 50% of the unit in a transaction that could involve the investor injecting new money into the business, the sources said.
Repsol's (REPYY) sale also encompasses partial interests in the Horseshoe and Quokka fields, enhancing the attractiveness of this investment opportunity.