European industry needs more green incentives, says Repsol chairman
The European Union needs to offer more incentives if it wants industry in the bloc to navigate the green energy transition while being competitive with global rivals, the chairman of Spanish oil company Repsol (REP.MC), opens new tab said on Friday.
“We need an efficient energy transition which doesn’t harm European industry,” Antonio Brufau told shareholders at the company’s annual general meeting.
The oil major’s chaimran said that Europe needed “more carrots, less stick”, pointing to policies introduced in the United States under the Inflation Reduction Act as a positive example.
Brufau also criticised the “electrification obsession” in Europe, calling for a willingness to embrace all technologies able to reduce emissions, such as renewable gases.
The United States is a key market for Repsol, which is targeting more deals in the country.
Source: Reuters
