| PDF | 345.19 KB
Log in
Cancel
Top tips
Repsol posts adjusted net income of 917 million euros
Press Release
28/07/2016 15:00
- Provisions of 346 million euros were made in the first half earnings to cover the restructuring of the workforce previously approved by the company.
- All Repsol’s business areas achieved positive results, which is especially significant given depressed oil prices. There was a 31% fall in Brent prices and a 28% fall in Henry Hub prices compared with the same period of the previous year.
- Adjusted net income was 917 million euros compared with 1.24 billion euros in the first six months of 2015, which included exceptional financial results of 500 million euros.
- The Upstream business unit (Exploration and Production) increased its adjusted net income by 301 million euros compared with the first half of 2015.
- Average production was 705,500 barrels of oil equivalent per day, 60% more than that produced during the first half of 2015, primarily because of the incorporation of Talisman assets.
- The Downstream business unit (Refining, Chemicals, Marketing, Lubricants, Trading, LPG and Gas & Power) posted an adjusted net income of 934 million euros, with an outstanding contribution from the chemicals business, which improved its sales and margins.