repsol profit climbs in first quarter 2013
Last Updated : GMT 20:31:25
Arab Today, arab today
Arab Today, arab today

Repsol profit climbs in first quarter 2013

Arab Today, arab today

Arab Today, arab today Repsol profit climbs in first quarter 2013

Madrid - AFP

Spanish oil and gas group Repsol reported Thursday a boost in net profits in the first quarter of 2013, saying the gain would have been much greater but for last year's expropriation of its Argentine offshoot YPF. Repsol said net profit edged up 1.6 percent from a year earlier to 631 million euros in the quarter, assuming a constant cost of supplies (CCS) as is widely accepted for the reporting of financial results in the oil industry. The Argentine government in May last year nationalised oil and gas firm YPF, reducing Repsol's 51-percent stake to just 6.4 percent and whipping up a diplomatic row between Madrid and Buenos Aires. Repsol is fighting for financial compensation over the expropriation. When the impact of the YPF seizure was stripped out of its results, the oil giant said net profit gushed 38.4 percent higher to 634 million euros ($830 million). And excluding other one-off gains and losses, the adjusted net profit soared by 47.0 percent to 676 million euros. Repsol said the key drivers behind profits were bigger margins and volumes in its sales of liquefied natural gas in North America where the business scenario was improving. Excluding the impact of the YPF expropriation and other changes in Repsol operations, the group's total production climbed 11.4 percent to the equivalent of 360,300 barrels of oil a day, largely because of its activities in Trinidad and Tobago. Repsol unveiled a new strategic plan in May last year after losing control of YPF, focused on boosting oil exploration and reducing its net debt to avoid a possible downgrade by credit rating agencies. As part of the strategy the company said it would invest 19.1 billion euros between 2012 and 2016 to develop new exploration projects, mostly in Algeria, Brazil, Bolivia, Russia, the United States, Spain, Peru and Venezuela. The group also provided results for the latest quarter that incorporated variations in the value of its inventories. These figures showed that net profit excluding operational changes such as the expropriation of YPF rose 1.3 percent to 637 million euros and net profit including such operational changes slumped 19.9 percent to 634 million euros.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

repsol profit climbs in first quarter 2013 repsol profit climbs in first quarter 2013

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

repsol profit climbs in first quarter 2013 repsol profit climbs in first quarter 2013

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday