Repsol Resets Strategy to Deal With $50 Oil

摘要

Spain's Repsol is to slash spending, boost efficiency and divest ?6.2 billion of assets over the next five years as it adjusts to lower oil prices, focusing its efforts on debt reduction and maintaining dividends to shareholders. Presenting the company's new strategy for 2016 - 20 in Madrid on Thursday, Chief Executive Josu Jon Imaz said it was based on a "stress scenario" of $50 per barrel oil persisting for several years.