Spain: Repsol LNG Income Surges

Spain’s Repsol posted net income of 1.901 billion euros in the first nine months of 2011, 6.4% higher than the 1.786 billion euros reported in the year-earlier period.

The group’s operating income totalled 4.102 billion euros, 1% higher than that recorded in September 2010.

The LNG division showed an especially positive performance based on higher sales after the start-up of Peru LNG.

Operating income at the LNG business in the first nine months of the year was 276 million euros, 367.8% higher than the 59 million euros for the same period of the previous year.

YPF’s operating income was 1.008 billion euros compared with 1.205 billion euros in the first nine months of 2010.

Gas Natural Fenosa posted an operating income of 712 million euros, 4.9% less than the year-earlier period.

The group’s net financial debt, excluding Gas Natural Fenosa, was 2.909 billion euros at the close of the third quarter, a net debt over capital employed ratio of 8.4%.

[mappress]

LNG World News Staff, February 29, 2012