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Repsol is owed $5.4 billion by Venezuela, report shows

Published by Global Banking & Finance Review®

Posted on February 19, 2026

1 min read

Last updated: February 19, 2026

Repsol is owed $5.4 billion by Venezuela, report shows - Finance news and analysis from Global Banking & Finance Review

Tags:emerging markets

Quick Summary

Repsol’s annual report says Venezuela owes €4.55B ($5.37B), spanning trade receivables, late interest and €947M JV financing. Most is provisioned due to PDVSA payment delays.

Repsol says Venezuela owes €4.55B ($5.37B) across receivables and JV loans

By Pietro Lombardi

MADRID, Feb 19 (Reuters) - Energy group Repsol is owed 4.55 billion euros ($5.37 billion) by the Venezuelan state, according to its annual financial report published on Thursday.

This includes commercial debt tied to oil and gas supplies, late payment interests as well as 947 million euros in financing for its Petroquiriquire joint venture with Venezuelan state-owned oil company PDVSA, the report shows.

The Spanish company has provisioned most of it over the years, with overall provisions for this matter at around 3.59 billion euros.

($1 = 0.8475 euros)

(Reporting by Pietro Lombardi; Editing by David Latona)

Key Takeaways

•Repsol is owed €4.55B ($5.37B) by the Venezuelan state, per its annual report.
•The balance includes commercial receivables, late payment interest, and €947M financing for the Petroquiriquire JV with PDVSA.
•Repsol has provisioned roughly €3.59B against these exposures over time.
•Debts stem from oil and gas supply agreements and joint-venture funding arrangements.
•The report cites an exchange rate of $1 = €0.8475 for conversions.

Frequently Asked Questions about Repsol is owed $5.4 billion by Venezuela, report shows

1What is the main topic?

Repsol’s annual report indicates Venezuela, via PDVSA, owes the company €4.55B ($5.37B), reflecting commercial receivables, late interest, and joint-venture financing.

2How is the debt composed?

It includes trade receivables linked to oil and gas supplies, accrued late-payment interest, and €947M in financing tied to the Petroquiriquire JV with PDVSA.

3Has Repsol provisioned for this exposure?

Yes. The company has booked provisions of about €3.59B over the years to cover expected losses related to these Venezuelan receivables and loans.

Repsol says Venezuela owes €4.55B ($5.37B) across receivables and JV loans

By Pietro Lombardi

MADRID, Feb 19 (Reuters) - Energy group Repsol is owed 4.55 billion euros ($5.37 billion) by the Venezuelan state, according to its annual financial report published on Thursday.

The Spanish company has provisioned most of it over the years, with overall provisions for this matter at around 3.59 billion euros.

($1 = 0.8475 euros)

(Reporting by Pietro Lombardi; Editing by David Latona)

Key Takeaways

•Repsol is owed €4.55B ($5.37B) by the Venezuelan state, per its annual report.

•The balance includes commercial receivables, late payment interest, and €947M financing for the Petroquiriquire JV with PDVSA.

•Repsol has provisioned roughly €3.59B against these exposures over time.

•Debts stem from oil and gas supply agreements and joint-venture funding arrangements.

•The report cites an exchange rate of $1 = €0.8475 for conversions.

Frequently Asked Questions

1What is the main topic?

Repsol’s annual report indicates Venezuela, via PDVSA, owes the company €4.55B ($5.37B), reflecting commercial receivables, late interest, and joint-venture financing.

2How is the debt composed?

It includes trade receivables linked to oil and gas supplies, accrued late-payment interest, and €947M in financing tied to the Petroquiriquire JV with PDVSA.

3Has Repsol provisioned for this exposure?

Yes. The company has booked provisions of about €3.59B over the years to cover expected losses related to these Venezuelan receivables and loans.