Expansion / The highest body scans give a twist to the strategic plan and the reorganization of assets to be undertaken by the impact of the collapse in oil prices.
The board of Repsol, which ordinarily meets today, will address measures to deal with the collapse of the fall in oil prices. The council will discuss, among other issues, the volume of provisions that have to do Repsol in their accounts to counteract the impairment who are suffering some of its assets after the collapse of crude. Some reports Analysts estimate the impact of 2,000 million euros.
The council will also begin to assess give a twist to the announced in October last year strategic plan. EXPANSION ahead as January 14, the group includes delve into some of the plan’s measures. For example, increasing the cost adjustments and synergy with Talisman, further reduce investments or even freezing in some areas, and increase the divestments.
Dividend Repsol wants to maintain the dividend. Prior to eliminate or reduce, sell shares of Gas Natural Fenosa, which has 30%, valued at 5,300 million. Oil continues to environmental levels of $ 30 per barrel of Brent, something no one expected just four months ago, when Repsol designed its current strategic plan. This plan, until 2020, was designed to address various scenarios of oil prices. The hardest contemplated $ 50 a barrel.
Yesterday, a barrel traded at $ 31.45, 3.11% more than the previous day. However, this month has come down to $ 28, its lowest level in twelve years.
The price of Repsol is moving to the sound that makes the oil market. Oil closed yesterday at 9.02 euros per share, 4.3% more than the previous day. Its market capitalization is around 13,000 million.
The advice today is the last before the presentation of the annual results. The group plans to present full 2015 results on February 25. The previous Wednesday, February 24, would play new ordinary sitting of the council.
One of the unknowns is what will take full charge of provisions for impairment of assets Repsol and against which year, 2015 or 2016. Any negative impact on the oil, in any case, it will affect its major shareholders in part proportional to their stakes. La Caixa, the largest shareholder, holds 11% and Sacyr second shareholder, has 8%. A precedent was what happened two years ago with the negative impact that recognizing the expropriation of Repsol YPF. La Caixa came to recognize a loss of 184 million in its accounts for the loss of YPF. He did against 2013 accounts even before he recognized the Repsol itself. La Caixa presents 2015 results Friday.
In parallel to the pressure of lower oil prices, Repsol is also facing tensions for ratings. A few days ago, Moody’s placed on review for possible downgrade about two hundred companies, including Repsol, by falling oil prices. The big test will come with Standard & amp; Poor’s.
Financial sources say the agency shuffles a possible revision of the rating of Repsol in late February or early March. In October last year and issued a notice to place the oil in a negative perspective and ask further tightening measures.
The Repsol board evaluates the provisions for the oil crisis
Information Expansión
http://entornointeligente.com/articulo/7776045/El-consejo-de-Repsol-evalua-las-provisiones-por-la-crisis-del-crudo
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