Repsol reported a loss in the third quarter — albeit an improved result from earlier in the year — as the Spanish player is still working to recover from the Covid-19 pandemic.

The company reported a loss of €94 million ($108.5 million) for the three months to the end of September compared to a profit of €333 million in the same period of last, mainly due to lower oil and gas prices and lower production, it said.

The loss, however, was narrower than the €2 billion in losses Repsol reported in the second quarter of this year.