Repsol signs labor accord through 2028

Spanish oil major Repsol signed a new collective labor agreement with unions CCOO and UGT running from Jan. 1, 2025, through Dec. 31, 2028. The deal indexes salary tables to annual actual consumer prices, aiming to protect purchasing power for about 14,000 Spain-based employees. Agreement extends the summer intensive work schedule from June 1 to Sept. 30, widening flexibility provisions. The company will pay a one-off, non-consolidated bonus equal to 3% of annual reference salary tied to 2026 business performance. It includes social support measures, such as up to EUR 1,000 gross per year for