Repsol earned a net profit of 1.583 billion euros in the first nine months of 2017, 41% more than during the same period of the previous year.
Adjusted net income increased by 39% to 1.702 billion euros, and EBITDA grew by 32% to 4.715 million.
These results reflect the strength of the company’s businesses, bolstered by the efficiency measures put in place to address the current context of low oil prices.
There was a significant improvement in earnings for the Upstream unit (Exploration and Production) with net income reaching 487 million euros in a period when the company also announced significant exploratory successes in the United States and in Trinidad and Tobago.
The Downstream area (Refining, Chemicals, Marketing, Lubricants, Trading, LPG and Gas & Power) reported a result of 1.431 billion euros, 8% higher than the same period last year.
The refining margin indicator in Spain was 6.8 dollars per barrel, compared to 6 dollars per barrel in the first nine months of the previous year.
In May, Repsol became the world’s first company in its sector to issue a certified green bond, to finance more than 300 initiatives aimed at reducing CO2 emissions.