MADRID (dpa-AFX) - Spanish oil major Repsol S.A. (REPYY.PK) reported Thursday that its net income for the first quarter declined 43 percent from last year.
The company's first-quarter net income was 434 million euros, down from 761 million euros in the prior-year quarter.
Adjusted net income for the quarter was 572 million euros, compared to 928 million euros in the same period last year. The prior-year period's results included exceptional earnings of 500 million euros due, mostly, to the company's dollar position after receiving funds for the expropriation of YPF, subsequently used for the acquisition of Talisman.
The company's EBITDA at CCS, or current cost of supplies, was 1.24 billion euros in the quarter, 6 percent higher than in the year-ago period.
Average hydrocarbon production reached 714,200 barrels of oil equivalent per day in the quarter, double that produced in the prior-year period.
Copyright RTT News/dpa-AFX