Repsol's results slightly beat estimates in quarter, despite low crude prices

Article Abstract:

Repsol SA posted results for the first-quarter of 1999 that were higher-than-expected. The company reported these results despite the fact that crude oil prices were at an all-time low. The low prices hurt Repsol's operating profits. The energy group posted 231 million euros ($246.3 million) in net profits for the quarter. During the same period in 1998, Repsol posted 230.1 million euros. Analysts predicted 229.3 million euros in net profits.

Comment:

Posts results for first-quarter of 1999 that were higher-than-expected

Petroleum, Petroleum and Coal Products Manufacturing, Spain, Repsol YPF S.A. (Madrid, Spain)

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PDVSA, as big payout looms, prompts oil-output concerns

Article Abstract:

Petroleos de Venezuela SA (PDVSA) is planning to pay dividends of up to $1.65 billion (1.54 billion euros) to the government of Venezuela in 1999. PDVSA is the state oil firm of Venezuela. The planned dividends represent approximately 149% of the firm's profits during the 1998 year. The $1.65 billion figure is contrasted with 73% of PDVSA's profits in 1997.

Oil Products, Petroleum Refineries, Venezuela, Petroleum products, Abstract, Petroleos de Venezuela S.A.

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