Spanish demand for fuels was down 61% yoy in April, but now down by 10-15% in July. The environment is improving, yet still under pressure. The next focus is on Repsol’s new strategic plan. Due in September, it will highlight the environmental targets of the group. More importantly, the new dividend payout will also be announced, dampened by weak refining margins and low natural gas prices.
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Q2: worst is over, outlook remains weak
Spanish demand for fuels was down 61% yoy in April, but now down by 10-15% in July. The environment is improving, yet still under pressure. The next focus is on Repsol’s new strategic plan. Due in September, it will highlight the environmental targets of the group. More importantly, the new dividend payout will also be announced, dampened by weak refining margins and low natural gas prices.