abce certificate
New Articles
Thursday, 21 August, 2008, 21:20 GMT | more prices >>

Repsol stumbles as profit falls



By Upstream staff 

Spain’s Repsol YPF said today its adjusted net profit fell by 6.8% in the second quarter to €799 million ($1.1 billion), narrowly ahead of market expectations.

Repsol said the results were affected by lower crude oil prices than in the same period last year and the strength of the euro against the dollar, which knocked €90 million off operating profit.

Higher refining margins lifted adjusted operating profit for Repsol’s refining business by 16% to €668 million.

Total adjusted operating profit dipped by 11.6% to €1.42 billion, compared with a Reuter’s poll forecast of €1.44 billion and an adjusted €1.6 billion last year.

Total oil and gas production fell 5.4% to 1.07 million barrels of oil equivalent per day, Repsol said.


Thursday, 26 July, 2007, 08:03 GMT  | last updated: Thursday, 26 July, 2007, 08:26 GMT

e-mail this article to a colleague


to email:  from:
comments: