Arab Today, arab today repsol to invest 191 bn euros in 201216
Last Updated : GMT 19:18:34
Arab Today, arab today
Arab Today, arab today

Repsol to invest 19.1 bn euros in 2012-16

Arab Today, arab today

Arab Today, arab today Repsol to invest 19.1 bn euros in 2012-16

Madrid - AFP

Spanish oil giant Repsol said Tuesday it plans to invest 19.1 billion euros ($24 billion) over the next four years, mostly to develop recently discovered wells and in new explorations. \"Nearly 80 percent of the investments of the group are destined for upstream, which is the growth motor of the group,\" it said in a statement to outline its strategic plan for 2012-16. It is the first plan released by the company since Argentine President Cristina Kirchner on May 4 signed a bill nationalising oil and gas producer YPF, which Repsol had controlled with 51 percent stake. Repsol said it had identified ten \"key growth projects\" for its investments in 2012-16 in Algeria, Brazil, Bolivia, Russia, the United States, Spain, Peru and Venezuela. It said it plans to pump 500,000 barrels of oil equivalent a day by 2016, an annual production growth rate of more than 7.0 percent during the period. The company had previously forecast growth of 3.0-4.0 percent for the period. Repsol predicts its 2016 net profit will be 1.8 times the 1.7 billion euros it posted last year, boosted by the rise in production. The company said it would slash its dividend payout ratio to conserve cash in the wake of the nationalisation of its Argentine unit. Repsol said its dividend payout ratio through 2016 will fall to 40-55 percent, from a previous range of 50-60 percent. Kirchner has argued that the nationalisation of YPF was justified because Argentina faces sharp rises in its bill for imported oil, and Repsol has failed to make agreed investments needed to expand domestic production. Repsol was left with 6.4 percent of YPF, Argentina\'s leading oil and gas company, following the nationalisation. Repsol has said it will seek at least $10 billion in compensation for its expropriated shares, as well as international arbitration to settle the claim. Argentina counters that Repsol is leaving $9 billion in debt, while in just over a decade it earned more than $15.7 billion, most of it sent overseas and not reinvested. Shares in Repsol fell 2.93 percent to 13.41 euros in late morning trade. Spain\'s main Ibex-35 stock index fell 1.23 percent.

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*

Arab Today, arab today repsol to invest 191 bn euros in 201216 Arab Today, arab today repsol to invest 191 bn euros in 201216

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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