This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Repsol cierra el ejercicio con un resultado neto de 2.193 millones, un 53,3% menos que en 2010

Repsol closes the exercise with a net result of 2.193 millions, 53,3% less than in 2010

08/03/2012

8 March 2012

Repsol reached in the past exercise a net result of 2.193 million euros, 53,3% inferior to the reached in 2010, that incorporated the extraordinary effect of the agreement of Repsol with the Chinese company Sinopec in Brazil. These results also saw affected, negatively, by external factors, like the armed conflict of Libya and the situation of strikes and suspension of the Program Oil Plus, in Argentina. On the other hand, the success of the exploratory activity of the company produced a record increase of the tax of replacement of reservations of hydrocarbons, that reached for the group 131% (162% in the area of Upstream and 112% in YPF).

The company achieved new discoveries, like the big findings in Brazil and the one of hydrocarbons no conventional in the yacimiento Dead Cow, in Argentina. Besides, the multinational deepened in his geographic diversification with the acquisition of participations in blocks in Colombia, Alaska, Ireland, Norway, Portugal, United States and Russia.