Repsol reported for Q1 17 an adjusted net income of €630m, up 10% yoy and higher than the consensus at €533m. By division: 1) Upstream’s adjusted net income was €224m, nearly doubled compared to a year ago, driven by: a. higher oil prices (+€482m) going from $31/bbl a year ago to $50/bbl in Q1 17; b. lower volumes contributing negatively (despite the resumption of production in Libya). Production reached 693kbpd, 3% down yoy due to disposals. Libya’s resumption
09 May 2017
Q1 17: guidance confirmation, but no more
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Q1 17: guidance confirmation, but no more
Repsol reported for Q1 17 an adjusted net income of €630m, up 10% yoy and higher than the consensus at €533m. By division: 1) Upstream’s adjusted net income was €224m, nearly doubled compared to a year ago, driven by: a. higher oil prices (+€482m) going from $31/bbl a year ago to $50/bbl in Q1 17; b. lower volumes contributing negatively (despite the resumption of production in Libya). Production reached 693kbpd, 3% down yoy due to disposals. Libya’s resumption