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Wednesday, 07 January, 2009, 22:50 GMT | more >>

Repsol numbers take a tumble



By Upstream staff 

Spanish producer Repsol YPF reported a 0.7% dip in first quarter adjusted net profit to €838 million ($1.13 billion), hurt by lower oil prices and exchange rates.

A Reuters poll of eight analysts had forecast adjusted net profit, which strips out non-recurring items, of €683 million compared to the €844 million seen in the same period last year.

Repsol's operating profit dipped 11% to €1.41 billion compared to a forecast €1.26 billion and €1.58 billion last year.

The Spanish player said its total production fell by 4% to 1.08 million barrels of oil equivalent per day while investment in exploration and production rose by 120% to €1.05 billion in the quarter.


Monday, 14 May, 2007, 06:58 GMT  | last updated: Monday, 14 May, 2007, 07:55 GMT

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