In Peru, in terms of hydrocarbon exploration and production activities, the company’s benefits totaled 371 million euros in 2022, double what was reported the previous year.
Repsol increased its net profit by 70.1% in 2022 compared to 2021, up to 4,251 million euros, of which 64% came from international business, with the rise in hydrocarbons that triggered the war in Ukraine, has informed the National Securities Market Commission (CNMV). The adjusted net result, which specifically measures the progress of the business, almost tripled (171.4%) and reached 6,661 million euros.
The oil company has indicated that the net profits obtained in 2021 and 2022, which totaled 6,750 million, still do not make it possible to offset the losses of the 2019 and 2020 financial years (7,105 million euros).
It has also indicated that in 2022 the group registered its largest tax contribution in history, with more than 17,000 million euros, of which 70%, about 12,000 million, was paid in Spain, being, according to the company, the company of the Ibex 35 that pays the most taxes in the country.
The gross operating result (ebitda) increased by 69.1%, to 13,813 million eurosand the adjusted ebitda almost doubled (93.9%) compared to 2021, up to 13,710 million.
The average price of Brent crude in 2022 was US$101 per barrel and Henry Hub gas closed at an average of US$6.6 per MBtu (measured for gas), well above 2021, when the average was US$3.9 per MBtu.
Repsol’s CEO, Josu Jon Imaz, said in a statement that high energy prices are not just a consequence of the war in Ukraine, since there was a shortage of energy products before and in Europe regulators “have preferred to forget the need to invest in oil and gas and also in refining capacity.
“The high prices are not fallen from the sky, they are the consequence of the incorrect decisions taken in Europe,” added Imaz.
Repsol in Peru
In Latin America, Repsol It is present in countries such as Bolivia, Brazil, Chile, Colombia, Mexico, Venezuela and Peru. In the latter, the oil spill that occurred at the La Pampilla refinery at the beginning of 2022 —a leak of more than 11,900 barrels of hydrocarbons, considered the largest environmental disaster in the country— has been the subject of fines from various state entities. Until a month ago, the company reached agreements with 7,000 of the 10,186 families registered on the single list of those affected by the spill.
In Peru, regarding hydrocarbon exploration and production activities, the company’s profits totaled 371 million euros in 2022, double what was reported the previous year (185 million euros)according to Repsol’s annual report.
Likewise, in the industrial division, the operating result of Repsol Peru in the last quarter of 2022 was higher by 111 million euros compared to the same period of the previous year, according to a company note on the quarterly results of 2022.
This is due to higher refining margins, mainly due to higher spreads for middle distillates and gasoline, as well as higher volumes and results in the mobility business that were partially offset by higher costs.
With information from EFE and Forbes Peru
Source: Larepublica
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