Repsol Holds Off on U.S. Listing for Upstream Unit Despite 2026 Plans

Repsol is holding off on its plans to list its upstream business in the United States, even as the unit is structurally ready to go public. Chief Executive Josu Jon Imaz said the company sees no urgency to move forward with an IPO or reverse merger in the near term, despite earlier indications that a liquidity event could take place in 2026. “We are comfortable in the current situation and we are not going to jump into a liquidity event in the short term,” Imaz said. Imaz said upstream fundamentals are expected to improve further in…