Repsol earns 2.341 million, the highest amount in eight years, due to the rise in crude oil

Repsol earns 2.341 million, the highest amount in eight years, due to the rise in crude oil

The result improves 10% despite the impact of Venezuela on the company, which reaches 810,000 customers in the electricity business

   Repsol's profit exceeded 2,341 million euros in 2018, an increase of 10.4% with respect to the previous year. The company has relied on the bullish evolution of oil, which has risen by 32%. He has achieved this despite the fact that the problems in Venezuela have forced him to provision 1,159 million and reduce his exposure to 456 million.

  With these wickers, the Exploration and Production area ('Upstream') recorded a result that doubled with respect to 2017, reaching 1,325 million, thus continuing the positive trend of the previous years. Both the increase in production and the rise in the price of crude oil were essential, as well as the measures of efficiency and digitization programs. In the area of ​​'Downstream' (other activities unrelated to oil production and extraction), the benefit was 1,583 million, 15.7% lower. This decrease was offset by the results in commercial business and trading and gas.


Impulse in light and gas
The CEO of Repsol, Josu Jon Imaz, pointed out that the corporation has reached 810,000 customers in its electricity business, with an increase of 8% compared to the figure that had the Viesgo marketer when he bought that activity, in November last year. In these three months, Repsol has managed to attract some 60,000 users. Imaz recalled that his goal is to reach in Spain a share of 5% or reach 2.5 million gas and electricity customers.