The CEO of Repsol, Josu Jon Imaz, has reiterated that the company he leads is "completely committed to Venezuela," emphasizing the group's bet to maintain and expand its projects in the Latin American country.
During his speech this Wednesday at the "XI Energy Forum" of "elEconomista.es," Imaz explained that "the situation, timidly, in the social and economic sphere, is starting to improve, hydrocarbon production is beginning to increase, which is the great fiscal income that the country has, and Repsol, evidently, is investing, we are committed."
The Basque executive indicated that the energy company operates in Venezuela with the "aim of continuing to produce the gas that sustains the country's electrical system and also trying to increase hydrocarbon production," thus reinforcing its presence in the Venezuelan energy sector.
Regarding the role of the Spanish oil company in the electricity supply, Imaz emphasized that its contribution is "very important, as it stabilizes the country." "We produce with Eni 60% of the gas that stabilizes the country; this is very important because imagine the humanitarian situations that would have occurred if this had not worked," he pointed out, focusing on the social impact of that production.
On the increase in crude and gas production, the head of Repsol pointed out that it is part of a "strategy in which there are fiscal revenues, the country stabilizes and advances on the path of social, economic, and political development," thus linking the company's activity to the Venezuelan recovery.
Imaz insisted that "we are completely committed," and highlighted that, in his opinion, thanks to the actions of the United States in Venezuela and the arrest of the then president of the country, Nicolás Maduro, "a door was opened to a better Venezuela."