Higher Energy Prices Lift Repsol Profits

摘要

Spain's Repsol YPF reported first-quarter net profits of ?765 million ($1.1 billion), up 11.2% from a year earlier, mainly on the back of higher oil and gas prices -which were up by 13.4% and 14.8%, respectively -and a "solid performance" from its LNG division. Upstream operating income in the three months to Mar. 31 was ?490 million, 13.4% higher than a year earlier. Production slid 7.4% to 324,348 barrels of oil equivalent per day. "The fall is explained by circumstantial factors such as the suspension of activity in Libya and maintenance work in Trinidad and Tobago," Repsol said.