Spanish energy company Repsol announced a new strategic plan extending through 2028 that includes increased targets for shareholder returns and energy production while reducing capital expenditure.

Under the plan, Repsol intends to return approximately $4.19 billion to shareholders through a combination of cash dividends and share buyback programs. The company has raised its targets for shareholder distributions compared to previous guidance.

The energy producer also increased its production targets while simultaneously planning to cut capital expenditure as part of the strategic framework. The plan reflects Repsol's approach to balancing growth investments with returns to investors.

The announcement comes as energy companies worldwide continue to adjust their strategic priorities in response to market conditions and investor expectations for capital discipline and shareholder returns. Repsol's plan spans the period through 2028, providing a multi-year framework for the company's operational and financial targets.