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Petrofac secures major North Sea contract extension
Sept. 5, 2019
Source: World Oil

Petrofac secures major North Sea contract extension

Oilfield services giant, Petrofac has secured a major contract extension to continue supporting the operations of Repsol-Sinopec Resources UK Limited’s in the North Sea. The Jersey-based firm will continue as a tier 1 contractor for brownfield modifications and projects for Repsol-Sinopec Resources’ operated assets and terminal at Flotta. Petrofac provides engineering support services for the Flotta asset.

Repsol registers 9% dip in 2Q profits
July 25, 2019

Repsol registers 9% dip in 2Q profits

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.

Repsol lays off 30% Canadian staff
June 19, 2019
Source: Reuters

Repsol lays off 30% Canadian staff

Joining a number of energy firms, Spanish energy company Repsol SA, yesterday, announced plans of laying off about 30% of its Canadian workforce as part of global restructuring. Repsol will intimate employees affected by the reorganization in the Canadian exploration and production and corporate units this week. While the firm refused to give an exact number of cuts, Repsol’s Canadian workforce stood at approximately 700 in 2018.

Repsol and LLOG Exploration ink Asset Exchange and Joint Participation Agreement
April 30, 2019
Source: BOE Report

Repsol and LLOG Exploration ink Asset Exchange and Joint Participation Agreement

Louisiana-based LLOG Exploration has entered into an asset exchange and joint participation agreement with Repsol E&P USA. The agreement pertains to Gulf of Mexico, and will provide for drilling operations of a delineation well at Repsol’s Leon discovery and also cover for blocks in Keathley Canyon. Additionally, Repsol will purchase stakes in the LLOG-operated discovery Moccasin in Keathley Canyon.

Repsol & Hellenic Petroleum join hands for offshore exploration in Greece
April 11, 2019

Repsol & Hellenic Petroleum join hands for offshore exploration in Greece

Russian oil major, Repsol has entered into lease agreement with Greek oil firm, Hellenic Petroleum to conduct exploration activities together offshore Greece. The lease agreement will see the firms explore an offshore block in the Ionian Sea. Greece is looking forward to giving a major boost to its oil and gas sector with landmark discoveries in the eastern Mediterranean region.

Repsol’s increased profit reduces debt burden
Nov. 1, 2018
Source: World Oil

Repsol’s increased profit reduces debt burden

Spain’s oil and gas producer, Repsol SA informed that the increase in oil prices supported the profit growth of the company. The improved profit has helped the company to reduce its debt burden. The stock of Repsol is up by 5.2% this year. In the third quarter, the net income of the company jumped to 588 million euros ($667 million) which was 528 million euros earlier this year.

Wintershall to start drilling operations at Marisko prospect
Oct. 18, 2018
Source: Energy Voice

Wintershall to start drilling operations at Marisko prospect

BASF-owned Wintershall has received green light to go ahead with drilling operations at the Marisko Prospect in the Norwegian Sea. Wintershall will deploy Transocean Spitsbergen rig for carrying out the drilling process on the prospect. Operations at the prospect are expected to last 61 days. If a discovery is made, operations will continue for 93 days. Repsol, OMV and Equinor are stake holders of Marisko prospect where Wintershall is the operator.

Venture Global and Repsol join hands
Sept. 8, 2018
Source: Reuters

Venture Global and Repsol join hands

A 20-year agreement has been signed between Venture Global LNG and Repsol SA. Under the scope of this agreement, Venture will supply 1 million tonnes p.a. of LNG to Repsol from the Calcasieu Pass LNG export facility. LNG will be bought by Repsol on a free on board (FOB) basis. According to Venture Global, the commercial operation date the 10 million tonnes per annum Calcasieu Pass is expected in 2022.

Repsol planning to raise scrip dividend
June 7, 2018
Source: World Oil

Repsol planning to raise scrip dividend

Spanish oil major, Repsol SA, is planning to raise its dividend over the following two years, betting the crude price would remain above $50/bbl. The scrip dividend in terms of stock, which is expected to reach 90 euro cents this year, will rise to 1 euro, in 2020. Repsol, which no longer seeks significant growth in its oil business, sold a stake in Spain’s Gas Natural, SDG SA, this year.

First cargo of Iran’s West Karoun sold to Repsol
June 5, 2018
Source: Economic Times

First cargo of Iran’s West Karoun sold to Repsol

Iran has sold its first cargo of West Karoun crude to Spain’s Repsol. Iran exported 2.4 million bpd of crude oil last month, and 300,000 bpd of natural gas condensate. National Iranian Oil Co. has already circulated samples of the heavy oil to some customers. Production from the West Karoun oil fields has nearly doubled in the past year, convincing Repsol to agree to take up 500,000 barrels of oil.

Repsol said to end quest for Oil Growth in lieu of Clean Energy
May 18, 2018

Repsol said to end quest for Oil Growth in lieu of Clean Energy

The Madrid-based energy corporation, Repsol SA, will release a restructured business strategy a month from now that will point towards limiting oil and gas yield to current levels. Repsol is actively on the lookout to enter the renewable energy market. However, even if the company renounces growth in its hydrocarbon business, Repsol would still remain a major producer of oil and gas.

Emerson has signed contract with Repsol providing exploration technology software
April 1, 2018

Emerson has signed contract with Repsol providing exploration technology software

To help Repsol identify and evaluate new and existing opportunities more accurately, Emerson has signed a mutli-year contract with Repsol to provide its Paradigm E&P software suite across all its global exploration operations. Director of Exploration Petro-technical Services at Repsol, Agustin Diz.said that Implementing Emerson’s E&P software suite across their global exploration program will increase efficiencies, reduce costs and improve their understanding of the subsurface.

Repsol-Spanish firm to open 200 fuel stations in Mexico
March 13, 2018
Source: Energy World

Repsol-Spanish firm to open 200 fuel stations in Mexico

Maria Victoria Zingoni, Downstream Director of Spanish firm Repsol’s broke the news to a media house that Repsol will open 200 fuel stations in Mexico in 2018. Investing a total of 8 billion pesos the company envisions having a 10% market share in the energy market of the South American country.

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