Repsol profitiert im 2. Quartal von höheren Ölpreisen (zwei) - 500 Beiträge pro Seite | Diskussion im Forum

[TeletraderNews [wO]]

Repsol profitiert im 2. Quartal von höheren Ölpreisen (zwei) Wie Repsol weiter mitteilte, erhöhte die die Gasförderung im 2. Quartal um 8,4%. In Bolivien sei 55,5% mehr Gas gefördert worden, um auf die höhere Nachfrage in Brasilien und Argentinien zu reagieren. Die Investitionen seien im Quartal verglichen mit dem Vorjahr um etwa 11% auf 649 Mio EUR gesunken. Ursächlich dafür sei vor allem die Aufwertung des Euro gewesen, berichtete das Unternehmen. Die Nettoverschuldung sei auf 5,597 (6,424) Mrd EUR gesenkt worden. Der Fremdkapitalanteil habe sich auf 22,6% (25,9%) verringert. Dow Jones Newswires/29.7.2004/cn/jhe

Diese Nachricht wurde Ihnen von VWD und TeleTrader präsentiert.

Autor: TeleTrader News Room (© Teletrader),12:27 29.07.2004

[Kanzler-neu]

Repsol YPF Output at 220,000boe/d in South America
Business News Americas (BNamericas.com) Monday, August 02, 2004

Spanish oil company Repsol YPF (NYSE: REP) is currently producing 220,000 barrels of oil equivalent in the Caribbean area including Venezuela, CEO Ramón Blanco said during a conference call to discuss H1 results.

Repsol produces 100,000boe/d in Venezuela and 120,000boe/d in Trinidad & Tobago, he said.

Repsol boosted its gas production in Venezuela in the first half of 2004 in line with its strategy to concentrate gas production in the Caribbean area mainly in Venezuela and Trinidad, Blanco said.

In April 2004, Repsol YPF started producing gas in the Yucal Placer Norte and Sur blocks in the central western zone of Venezuela. The company has a 15% stake in the Ypergas consortium, together with Total (69.5%, operator), Inepetrol (10.3%) and Otepi (5.2%).

Ypergas started production at 1.7 million cubic meters a day (mcm/d), and will increase that to 3mcm/d by the end of this year, Blanco said.

French company Total and its partners acquired a 35-year concession for the Yucal gas fields in June 2001.

Meanwhile, Repsol spudded the first well on its Barrancas onshore gas block in Venezuela`s Barinas state in June. Commercial gas production is expected to start in 1H05 and reach 2mcm/d by 2006, which will be used to supply a gas-fired power plant, Blanco said.

In June, the Venezuelan government authorized Repsol to increase its gas production by 3.4mcm/d on its Quiriquire block, including associated liquids, which will mean an additional US$25mn of annual operating income at current prices, Blanco said.

Repsol YPF also produces gas on its Mene Grande, Quiamare-La Ceiba and Guarico Oeste blocks in Venezuela.

[Kanzler-neu]

Repsol YPF Posts US$1.29bn Profits in H1
BNAmericas - Friday, July 30, 2004

Spanish oil company Repsol YPF (NYSE: REP) posted net profits of 1.08bn euros (US$1.29bn) in the first half of 2004, down 7.7% from the same period in 2003, the company said in its earnings statement Thursday (July 29).

In the second quarter, net income increased 12.6% to 555mn euros due to higher oil prices and better international refining margins, offset by the negative effect of a higher euro against the US dollar year-on-year and higher company taxes.

EXPLORATION & PRODUCTION

Overall net operating income increased 5% to 1.27bn euros in the first half and Latin American net operating income increased 3% to 1.11bn euros.

The reasons for this performance were: higher gas production and sales, mainly in Bolivia and Argentina; high international oil prices and improved gas realization prices, offset by the depreciation of the US dollar against the euro; the application of the natural gas export tax in Argentina, the country`s higher taxes on crude exports and lower oil prices due to the price-fixing agreement between producers and refiners; a rise in the level of crude oil stocks; and strikes in Argentina and operating problems in Trinidad & Tobago.

The average price for liquids in the half rose to US$28.9/b compared to US$25.8/b in 2003, while the average gas price in Argentina was 17.4% higher year-on-year.

Average first half year production was 1.15 million barrels of oil equivalent a day (mboe/d), 6.4% more in the same period 2003. However, the strikes in Argentina and Trinidad & Tobago had a negative impact of 11,500boe/d.

Half-year gas production rose 16.6% year-on-year to 460 million cubic feet a day (mcf/d) mainly due to growth in Argentina, where gas output rose 16.5% to 277mcf/d because of higher domestic demand, and Bolivia where production jumped 51.7% to 130mcf/d because of higher sales to Brazil and the start of exports to Argentina in the second quarter.

The production of liquids dropped 2.2% versus first half 2003, largely in Argentina. The labor strikes in Argentina and in Trinidad & Tobago in H1 led to a production shortfall of 10,400b/d.

Repsol YPF`s overall lifting cost for the half year was US$1.87/boe, 8.2% higher than the year before. Exploration expenses amounted to 87mn euros, up from 78mn euros the year before.

REFINING & MARKETING

Overall net operating income increased 4.8% to 739mn euros, mainly due to higher refining margins, but Latin American net operating income fell 28.2% to 204mn euros.

In Argentina, there was a slight 1.2% drop in sales to 6.1 million tons (mt) because of a 15.8% fall in exports, but light product sales were up 5.2% year-on-year. Gasoline and diesel sales increased 4.1%, with a 0.2% drop in gasoline and a 5.1% jump in diesel.

Liquefied petroleum gas (LPG) sales in the first six months were 4.9% higher in Latin America, shored up by strong growth in Peru and Ecuador. Retail margins widened in Argentina, Chile and Ecuador, but dropped in Bolivia and Peru, in the latter because of interference from state oil company Petroperu in the wholesale price formation.

PETROCHEMICALS

Overall net operating income decreased 16.5% to 91mn euros and Latin American net operating income fell 5.5% to 52mn euros.

Lower performance was caused by narrower international margins on Repsol`s product mix, notably on cracker and derivative products in Europe, where higher product prices were unable to compensate for rises in feedstock costs.

At 1.96mt, half-year petrochemicals product sales were slightly lower than 1.98mt the year before.

GAS & POWER

Overall net operating income increased 35.4% to 134mn euros and Latin American net operating income increased 160% to 26mn euros.

This result is mainly attributable to sales growth in countries including Brazil, Argentina, Colombia, and Mexico. In addition, Repsol`s higher stake in Gas Natural SDG and the contribution from Puerto Rico, whiich has consolidated since November 2003, also helped.

Higher sales stemmed from economic recovery in the region and an increase of 287,000 customers in the past twelve months, bringing the total in Latin America to 4.4 million.

About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports.

[Kanzler-neu]

Repsol YPF Makes New Gas Discovery in Venezuela
Repsol YPF 12/14/2004

Repsol YPF has discovered gas at the Sipororo 2X exploration well in the Barrancas Project, which spreads over the states of Barinas, Portuguesa and Trujillo in southwest Venezuela. This well is the first of eleven to be drilled in the aforementioned Barrancas project, which was awarded to Repsol YPF in 2001 under a concession for the exploration and exploitation of non-associated gaseous hydrocarbons (free gas).

Gas was discovered at a depth of approximately 3,000 meters. A flow of approximately one million m3 per day was registered in production tests, which is a much higher level than that initially estimated.

Gas from this well will initially feed an 80 megawatt (MW) power station in the state of Portuguesa, scheduled to go into operation during the second quarter 2005.

Production from the Barrancas block is expected to reach 2 million m3 per day by 2006, (12.6 thousand boepd) and will be used to supply a thermo-electric power station of up to 450 MW that is to be installed in the Obispos municipality, in the state of Barinas. This project will help reduce the power and gas deficit in the region, providing a competitive alternative in terms of price, thus benefiting west Venezuela.

This exploration success consolidates Repsol YPF as the leading private gas producer in Venezuela, where the Company currently produces 100,000 barrels of oil equivalent per day (boepd), mainly from the Quiriquire, Quiamare – La Ceiba, Guárico Occidental and Mene Grande fields.