The Spanish energy company Repsol said Thursday that its profit in the first quarter fell 6% over the same period last year, the sharp fall in oil prices worldwide and interruptions production in Libya.
The net profit of Repsol SA January-March was 761 million euros (851 million dollars), compared with 807 million euros in the first three months of 2014, the company said in a statement Thursday.
Excluding extraordinary expenses and revenues and then setting the value of the oil reserves after the fall in oil prices, adjusted net income of the company was 928 million euros compared to 532 million last year.
Like other oil companies, Repsol profits were hurt by lower oil prices nearly half of its value since last June.
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