Net Income Up 93% and Production Up 3% While Capex Stays Under Guidance
Spanish energy company Repsol (ticker: REP.MA) reported adjusted net income for the quarter of €307 million, 93% higher year-over-year. CFO Miguel Martinez San Martin cited the company’s improved year-over-year results as demonstrating “our resiliency in the lower part of the commodity cycle.”

Production from the Upstream division averaged 671,000 BOEPD, lower than the previous quarter average of 697,000 but 3% higher year-over-year. Average 2016 production is still for...

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