The company’s president and general manager presented the 2026–2030 Business Development Plan to the Minister of Energy and the Minister of the Treasury.
Enap held its Regular Shareholders' Meeting, where representatives of the owner (the Chilean government) requested the company to distribute 70% of its profits to the State Treasury.
This meeting was attended by Enap’s president, Mr. Cristián Muga together with the company’s general manager, Mr. Julio Friedmann; as well as the ministers of Energy, Mrs. Ximena Rincón, and of Finance, Mr. Jorge Quiroz, in their capacity as representatives of the shareholder (the Chilean government) in accordance with the Company Corporate Governance Law.
At the event, the company presented its Business Development Plan for 2026–2030, the key milestones for 2025, along with the strategic guidelines and priorities that will guide its work in the coming years.
The company seeks to become an increasingly efficient and competitive enterprise in addition to creating new sources of value, as part of an agenda focused on Enap’s future sustainability and the proper fulfillment of its key role in Chile’s energy supply.
The company also reported on the main financial figures and achievements for the 2025 management period. During this period, Enap achieved profits of US$848 million, completing five consecutive years of profitability. EBITDA stood at US$1.465 billion, the highest figure Enap has ever recorded, in addition to ending the period with the lowest debt level in 15 years and setting a production record at its refineries.
In addition, the company reported other developments during the period, including the sale of its subsidiary Enap Sipetrol in Argentina. Besides the creation of a division to develop logistics as a new line of business aimed at boosting the efficiency and profitability of its assets. A long-term agreement to supply crude oil from Vaca Muerta (Argentina); as well as a new oil discovery at its operations in Ecuador.
Enap’s general manager, Julio Friedmann, highlighted the authorities’ interest in the company’s performance and the positive outlook for the coming months, despite the turbulence in international markets. “We greatly appreciate this opportunity, which allows us to reflect, jointly with shareholder representatives, on how we view Enap today and in the future.
During the meeting it was reported that ENAP is conducting a thorough internal investigation that has revealed irregularities in the reporting of information to the authorities, as well as breaches of environmental obligations related to the decontamination plan undertaken by the Aconcagua Refinery.
As a result of this investigation, the Board of Directors unanimously decided to take legal action as soon as possible against all those deemed responsible and to take all necessary technical measures to correct this situation.
The shareholder expressed concern about this issue and appreciated the company’s efforts, but requested that the investigation be completed within 15 days. Their findings should be submitted, along with verification of environmental compliance across all the operations.
Enap reaffirms its commitment to transparency and emphasizes that integrity among all company employees is both an obligation and a non-negotiable value, as it was declared by the Board of Directors and the management, and as it has been proven by various actions taken in recent times.