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Repsol recorded a 9% slump in the second-quarter profits, weighed down by lower oil prices and a sharp contraction in refining margins. Recurring net profit corrected for one-off gains and inventory results dropped to 497 million euros, from 549 million euros in the corresponding quarter last year. However, Repsol’s 2Q earning results still exceeded analysts’ expectations, credits to the new production and growth in its chemicals business.
