-12.2% cut in Repsol EPS estimates in 2019 and -7.63% in 2020

Repsol's discovery in AlaskaRepsol project in Alaska.

Alphavalue | We have lowered the EPS estimates for Spanish oil company Repsol (2019 by – 12.2% and 2020 by – 7.63%) after incorporating the results of the last quarter and lower expectations of gas prices in the US.

We also assume a lower price of Brent crude ($ 60 / b vs. $ 66 / b earlier), although it will be partially offset by higher refining margins ($ 6.50 / b vs. $ 6 / b earlier).