Operating income grew 58.4% to 4.06 billion euros

Repsol net profit rises 32.5%

Press Release 11/11/2010 15:20
  • Repsol has maintained through September the momentum of the first six months of the year, with enhanced growth in the company’s key business areas. 
  • Net income was 1.786 billion euros in the first nine months of 2010.
  • Exploration and Production (Upstream) profit increased 69%, Refining and Marketing (Downstream) rose 34%, YPF earnings increased 82% and Gas Natural Fenosa profit rose 34%.
  • The group’s operating income was 58.4% higher than the first nine months of 2009 at 4.06 billion euros
  • A significant improvement in the company’s integrated refining margin, to $5.6 per barrel, makes it one of the industry’s most competitive.
  • Upstream Hydrocarbons production rose 5.2%, confirming the ascendant tendency begun in 2010.
  • Repsol in October signed an alliance with China’s Sinopec to create one of Latin America’s largest private energy groups. Valued at $17.8 billion, the deal reflects the value of Repsol’s exploratory activities in Brazil during the last few years.
  • At the end of the quarter, Repsol’s liquidity stood at 7 billion euros. 
  • "Over the last nine months, we have taken decisive steps to achieve the targets set out in the Horizon 2014 strategic plan,” said Repsol Chairman Antonio Brufau.

11 November 2010 - 00:00 CET | PDF | 123.73 KB