The Spanish oil company Repsol has almost doubled your net profit adjusted in the third quarter, after the efforts in cost control helped to offset a decline in its refining margins.
The Spanish oil company Repsol reported Thursday that it nearly doubled its net profit adjusted in the third quarter, after the efforts in cost control helped to offset a decline in its refining margins.
NOTICE: Repsol and La Caixa break the covenant in Natural Gas
Repsol reported that its net profit adjusted for items of extraordinary cost and constant inventory (CCS) was 307 million euros, representing an increase year-on-year rate of 93% and ranks at the top of the 296 million euros forecast in a poll of Reuters.
Repsol, in the midst of an ambitious program of synergies from the acquisition of the canadian Talisman, reported that it raised its target of cost savings this year to 1,400 million euros, after reaching 98% of its previous target of 1,100 million euros.
The sale of a 10% equity interest in Natural Gas had a positive effect on the net profit reported in the third quarter, which stood at 481 million euros, compared to a loss of 221 million euros in the same period of the previous year.
NOTICE: Delay Repsol’s investments in Colombia and the united states,
The funds deposited with the divestiture remained almost 2,000 million to his passive, which allowed Repsol to close the month of September with a net debt of 9,988 million euros.
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