Repsol triples profit to €2.2 billion amidst oil price volatility

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Reported by Consejeros Editorial TeamRepsol’s net profit soared in the first half of the year to €2.201 billion. According to Repsol, the net profit of €2.201 million reflects either the increase in crude oil prices relative to the book value of stored inventories, which has generated a positive equity effect of €823 million. Meanwhile, adjusted net profit, which specifically measures business performance, stood at €2.711 million for the half-year (up 134% year-on-year) and €1.838 million in the second quarter (up 207%). By business segment, the adjusted net profit for the Exploration and Production division reached €673 million, 6.7 per cent higher than in the first half of the previous year. Low-Carbon Generation recorded an adjusted net profit of €6 million.