Repsol YPF
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Net income in 2007 reaches Eu3,188 million Unaudited figures (IFRS) |
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FOURTH QUARTER 2007 HIGHLIGHTS • Higher oil realisation prices and improved refining margins in Spain set the tone for the quarter. • Production in fourth quarter 2007 was down 2.2% in like-to-like terms, remaining at the same levels year-on-year. Higher production in Libya partially offset decline of certain fields in Argentina. Repsol YPF started production this quarter in the Genghis Khan field in the Gulf of Mexico. • Divestments in the quarter totalled Eu544 million, contributing to optimising the company’s portfolio. Total divestments in the year reached Eu1,279 million. • The company’s financials improved substantially, with debt at the end of the year at Eu3,493 million. • On 15 January, Repsol YPF paid a gross interim dividend of Eu0.50 per share for the year 2007, 39% more than the interim dividend paid in the previous year. • On 21 February of this year, the Petersen Group concluded the acquisition of a 14.9% stake in YPF, S.A. for US$2,235 million, generating Eu300 million in net income to be booked in 2008. This transaction is in keeping with the Repsol YPF Group strategy, giving entry to an important Argentinean partner thereby strengthening the company's position to meet the challenges and opportunities in the oil and gas industry in Argentina. |
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