Repsol: second-quarter output down on Latin America
(CercleFinance.com) - Spanish oil major Repsol said its hydrocarbon production fell 3.
5% in the second quarter to 697,000 barrels per day.
In particular, Repsol's oil and gas output in Latin America and in the Caribbean dropped by 10.5% in the past quarter, mainly affected by maintenance activity in Trinidad & Tobago and Peru.
Also, the group's refining margin in Spain fell to 3.5 dollars per barrel, from 7.2 dollars in the second quarter of last year.
All in all, the trading statement "points to lower results in the offing," analysts at UBS said in a note.
Yet, Repsol shares were up 0.4% this morning in Madrid.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5% in the second quarter to 697,000 barrels per day.
In particular, Repsol's oil and gas output in Latin America and in the Caribbean dropped by 10.5% in the past quarter, mainly affected by maintenance activity in Trinidad & Tobago and Peru.
Also, the group's refining margin in Spain fell to 3.5 dollars per barrel, from 7.2 dollars in the second quarter of last year.
All in all, the trading statement "points to lower results in the offing," analysts at UBS said in a note.
Yet, Repsol shares were up 0.4% this morning in Madrid.
Copyright (c) 2019 CercleFinance.com. All rights reserved.