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Priority must be given to short-term economic measures to overcome this crisis

2020-05-11

At the company’s General Meeting, Repsol Chairman Antonio Brufau said that short-term economic measures must be applied to achieve a recovery of our economy, as quickly as possible.

“It is necessary to achieve a rapid recovery, prioritizing short-term goals to avoid causing structural damage to our productive fabric, always ensuring that these measures are compatible with the long-term goals,” said Brufau.

In his speech, he added that “now is the time to opt for industry.” “By giving industry a greater weight in our economy, it will become easier to overcome the crisis,” he said, before arguing for a grand alliance in favor of the sector.

“When this crisis emerged, Repsol made the decision to place all of our capacities, human and intellectual, as well as, naturally, industrial and technological, at the service of resolving and mitigating it. Our society is setting an example of solidarity and unparalleled sacrifice. Repsol and all of its people are too,” said Brufau.

“We have always been keenly aware that our primary contribution to resolving the crisis was to maintain our activities, to continue supplying the energy that our ambulances, our hospitals, our healthcare workers, and our homes were going to need in the fight against Covid-19. And, of course, to supply all those petrochemical products that, both as prophylaxis against the virus and as raw materials for a great many healthcare products and tools, are needed in this battle,” he asserted.

Chief Executive Officer Josu Jon Imaz reviewed Repsol’s performance in 2019, a “very important year where we advanced in the diversification of our activities, and where we have been pioneers in our sector in setting the target of being a net zero emissions company by 2050.”