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 incrementa su beneficio un 5,5 por ciento hasta septiembre
Repsol increases its profit a 5.5 percent until September
24/11/2004
on November 24, 2004
Repsol ypf recorded a 1.696 million euros net income during the first nine months of this year, representing an increase of 5.5 per cent with respect to the achievements in the same period of last year.
The oil company stressed that the results reflect the bullish developments in crude oil prices and high margins for refining, both parameters at their highest levels for 20 years.
For its part, the chemical activity recorded an improvement of the international banks, in particular the operating result amounted to 186 million, compared to 121 million euros in the same period of 2003, i.e. a 53.7 per cent more. Total sales of petrochemical products during the period were 3.1 million tonnes, a 0.7% more. Cumulative investments were EUR 54 million and went mainly to increases in capacity and improvement of the existing units, among which the company highlighted the start of the project of expansion of the plant of the Tarragona complex propylene/styrene oxide.
