25 February 2010 - 08:00 CET | PDF | 123.23 KB
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Record exploratory campaign in 2009
Repsol posts net income of 1.559 billion Euros for 2009
Press Release
25/02/2010 16:56
- In line with the rest of the industry, operating income fell 35.4% to 3.244 billion euros.
- The company’s net income fell 39% compared to 2008, mainly due to the sharp decline in international oil (-36.6%) and gas prices (-55.6%), and Spanish refining margins (-82.4%).
- The board will propose at the next annual general shareholders’ meeting, a total gross dividend of 0.85 euros per share, representing a 66% payout.
- Oil production at the Upstream (exploration and production) unit was 4.9% higher compared to 2008, due to the start of production at the Shenzi field in the deepwater area of the Gulf of Mexico, in US waters.
- Repsol’s Upstream reserve-replacement ratio was 94% from 65% in 2008.
- During 2009, the company carried out a record exploration campaign with 15 finds, three of which are amongst the world’s biggest discoveries.
- Improvement in marketing had a positive impact on the Downstream unit’s results, partly compensating for the effects of the fall in worldwide demand and weak international refining margins.
- Revenue in 2009 was 49,032 million euros.
- Antonio Brufau: "Our financial discipline has allowed us to sustain and progress with the Strategic Investment Plan on which the company’s future growth will be based."