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Repsol SA (ticker symbol: REP) is a global multi-energy company primarily engaged in the upstream and downstream of oil and gas. Founded in 1986 and headquartered in Madrid, Spain, the company operates in all areas of the oil and gas industry, including exploration, production, refining, transport, and distribution of energy. Repsol is also active in the power and natural gas markets with a growing focus on renewables and new energy solutions.

Shell is an integrated energy company involved in the exploration, production, refining, and marketing of oil and natural gas, as well as the manufacturing and distribution of chemicals. The company operates across several segments, including upstream, integrated gas, downstream, and renewables and energy solutions. Founded in 1907, Shell is headquartered in The Hague, Netherlands, and operates in over 70 countries worldwide. Its strategic strengths include a diversified portfolio with significant investments in liquefied natural gas (LNG) and a growing focus on renewable energy and decarbonization efforts. The company's global presence and extensive supply chain network contribute to its significant competitive positioning in the energy sector.