Repsol could cancel definitively the swap agreement with Venezuela
Spanish oil company Repsol has temporarily suspended the exchange with Venezuelan State Oil Company PDVSA of its refined products for Venezuelan crude, according to Reuters.
Repsol
Repsol production falls -2.5% in 1Q19
Renta 4 | Spanish oil company Repsol published its operational data for Q119. In the first quarter of the year, the price of Brent Crude (63.1$/b) fell -5% yoy and -8% compared to Q418 because of the strong reduction in crude prices since their highs at the beginning of October (-42% until the end of December, although with a subsequent recovery of +28% from the beginning of 2019 until the end of March).
Repsol Reinforces Its Profile As A Gas Company With The Discovery In Indonesia
Repsol has made the largest discovery of gas in Indonesia in the last 18 years and one of the 10 largest in the world in the last 12 months, with a preliminary estimation of at least 2 billion cubic feet of gas in recoverable resources, the equivalent of 2 years of gas consumption in Spain and 20% of Repsol’s natural gas reserves.
Repsol Reinforces Its Exploration Position In Alaska With 12 Blocks
Repsol has secured 12 new blocks in an area near to Pikka, the largest on-land oil discovery in the US in the last 30 years. The oil company has secured mining domination in a zone situated south of the River Colville (Alaska, US), where ConocoPhillips has also made significant discoveries. Repsol´s partner Oil Search has also secured four leasing contracts.
In Q3 Repsol Reduces Production By 4.3% To 691,000 Barrels Per Day
According to data provided to the regulator (CNMV) by the company, Repsol´s oil production amounted 691,000 barrels per day in the third quarter of the year, a reduction of 4.3% compared to the previous quarter and practically in line with the 693,000 barrels per day of the same quarter last year.
Repsol Acquires 40% of Mexican Lubricants Company Bardahl
Repsol has reached agreement to acquire 40% of Mexican lubricant company Bardahl, which represents its biggest purchase in this business and pushes forward its internationalisation strategy in Downstream.
Repsol Enters Full Speed Into Spain´s Electricty Generation Market As Fifth Largest Trader
Repsol and Macquarrie, the fund that controls Viesgo, have agreed the principle points of the agreement for the acquisition of the Cantabrian electricity company combined cycle gas power plants and retail business. The operation is valued at over 500 million euros and involves near 730,000 customers.
Repsol Will Pay A Dividend Of 1€ In 2020
Repsol´s new strategic plan up to 2020 envisages dedicating 2.5 billion euros to drive the growth in energy businesses with low carbon emissions and a dividend of 1 Euro by 2020. It will use the “scrip dividend” formula, combined with a programme of share buy back.
Oil Prices Rally After Trump Breaks Agreement With Iran Benefits Repsol, Total in Europe, Exxon In US
Donald Trump has announced the US’ withdrawal from the agreement with Iran and will reimpose economic sanctions on that country. Bankinter analysts believe OPEC and Russia hold the possible solution to the crude supply problem, substituting the production which could be withdrawn from Iran.
Repsol Plans To Invest Up To €3 Bn In Acquisitions
Repsol is making progress with the preparation of its new strategic plan which it will unveil on June 7. It aims to earmark 2.5-3 billion euros for acquisitions, compared with the 3.82 billion which it will obtain from the sale of its stake in Gas Natural to CVC.