26 Oct, 23

Repsol Boosts Renewables Business As Lower Oil Prices Drag Profits Down

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Spanish energy group Repsol reported on Thursday a 14% lower net income for January to September, due to lower crude oil and gas prices than in the year-ago period, while it strengthened its renewable energy portfolio. Repsol’s net income for the first nine months of 2023 was $2.93 billion (2.785 billion euros), down by 14% year-on-year. Adjusted income, which specifically measures the performance of the businesses, was fell by 19% to $4 billion (3.816 billion euros), with a lower decline than the drop in oil and natural gas prices…

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