FILE PHOTO: The logo of Spanish energy giant Repsol SA is seen during the opening ceremony of its first gas station in Mexico City, Mexico March 12, 2018. REUTERS/Carlos Jasso
MADRID (Reuters) – Spanish energy giant Repsol said on Monday it would aim to be a net zero emissions company by 2050, assuming a new price scenario for oil and gas that implies a post-tax impairment charge of 4.8 billion euros ($5.29 billion) to be reflected in 2019 results.
The company said it was the first oil and gas company in the world to assume the goal of become a net zero emissions company.
The impairment charge will not affect 2019 cash flow or dividend payouts, the company said in a regulatory filing.
Reporting by James Mackenzie and Ashifa Kassam