Repsol earnings increase due to resumed Libya production

The price of Brent crude oil settled below $ 60 per barrel on Friday which was [Photo: Pinterest]
Spanish energy company Repsol says cost reduction efforts, resumed production in Libya and rising market prices for crude boosted its earnings rise last year.

Repsol S.A. said Wednesday it posted net income of 2.121 billion euros ($2.6 billion) in 2017 — a 22 percent increase on the previous year and the highest in the last six years.

Its upstream operations, including exploration and production for oil and gas, posted a profit of 632 million euros, 12 times higher than in 2016. Profits from refining and retail operations came in at 1.88 billion euros, in line with previous years.

Production rose to 695,000 barrels a day, the highest in the last six years.

In early trading Wednesday on the Madrid stock exchange, Repsol shares were 0.77 percent higher at 14.32 euros.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to Please include ‘Op-Ed’ in the subject line.
You might also like

Submit a Correction

For: Repsol earnings increase due to resumed Libya production

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.