Repsol's profit of 58.7% with oil recovery

The recovery of international oil prices in recent days has provided positive results for companies linked to the offshore area. The Spanish Repsol is one of the companies that have benefited from the high of "black gold".

Only in the first quarter of 2017, the company achieved a breakthrough of 58.7% in net profits, compared to the same period last year, earning 689 million euros. Oil revenue accumulated in 10.7 billion euros in the quarter, up 30.7 percent on the same comparison.

In the first three months of 2017, adjusted earnings from exploration and production business was EUR 224 million, against EUR 17 million gain a year earlier. Only the refining and distribution Division, had a fall of 10% compared to last year, earning a profit of 500 million euros.

Second Repsol, the oil prices in the valuation period, the increase in refining margins and the good atmosphere of the petrochemical business were the main factors that aided in positive result and leveraged the company's income in the first three months of the year. With the surplus, the Spanish continued with their operating efficiency improvement projects and implementation of synergies, which provided greater flexibility and resilience to your business model.

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