MADRID | Repsol has sold its own treasury shares, amounting to 5% of the company’s stock, to Singapore’s Temasek for 1.036 billion euros. Together with existing shareholdings in Repsol, Temasek now owns 6.3% of Repsol’s outstanding shares.
MADRID | Shell will acquire the assets for $4.4 billion in cash and will assume $2.3 billion in financial leases ($1.8 billion) and debt ($0.5 billion in non-consolidated investments.) The deal reduces net debt by more than half (excluding Gas Natural Fenosa) to 2.2 billion euros.
Sapinhoa is one of Brazil’s largest oil fields, with estimated reserves of 2.1 billion barrels of high quality oil. In the next 18 months Repsol’s platform should reach its daily production peak of 120,000 barrels.
The company has been recognised as the energy company with the best environmental performance in 2012. For the second consecutive year, Repsol leads the Green Ranking of the energy sector that evaluates environmental practices of the world’s top 500 major listed companies.
MADRID | Repsol on Thursday said it had reached an agreement with a consortium of Chilean investors, led by LarrainVial, for the sale of 100% of its subsidiary Repsol Butano Chile. The operation was valued at approximately $540 million. Repsol Butano Chile holds a 45% stake of Lipigas, a company present in the Chilean liquified petroleum gas commercialisation market in addition to other financial assets. The deal will generate a net…
MADRID | A total 63.64% of Repsol shareholders opted to be paid the final dividend from 2011 earnings in shares, the Spanish company reported Friday. This is the first time that Repsol has opted for a flexible dividend which allowed shareholders to choose between newly-issued shares or a cash dividend through the sale to the company of free allocation rights. These results reflect shareholder’s interest in the company’s
MADRID | Repsol Sinopec Brasil reported it estimates that Block BM-C-33, in the deepwater Campos Basin, contains resources of more than 700 million barrels of light oil and 3 trillion cubic feet of gas. Partner companies are now working on an appraisal plan for the area. Repsol Sinopec Brasil is the operator of the discovering consortium, holding 35%, also joined by Statoil (35%) and Petrobras (30%). Block BM-C-33, off the coast…
MADRID | Repsol released Thursday the company’s results in the first quarter of the year excluding YPF, posting net income of €643 million, that is, 12.4% higher than the €572 million reported in the year-earlier period. Including YPF, quarterly net profit rose to €792 million, an improvement of 3.5% from €765 million year on year. The improved results are mainly due to the improvement of Repsol’s crude oil and gas realisation…
MADRID | Repsol reached an agreement with Disney Spain which will see the entertainment multinational sell its products in the Spanish oil company’s shops through its network of service stations. Following an initial test in 62 stores, Repsol and Disney decided to extend their partnership to a further 770 shops. A Disney Area has been created in shops, which is a specific area for products with pictures of Disney characters and…
MADRID | Morgan Stanley in Madrid released an investor note on Tuesday with some recommendations, and we spotted a couple of Spanish companies (always on the bright side, we know…) “We propose the following basket of 64 stocks (Nifty Fifty +) with the intent to replicate the behaviour on the original list (Nifty Fifty) for the years 60/70 in the U.S. “The criteria we used for this stock selection exercise are:…