Cepsa earns 163.4 million euros in first quarter of 2015

Cepsa has earned 163.4 million euros in the first quarter of 2015, 90% over the same period last year, thanks to better refining margins and the “optimization of the distillation and conversion capacities" of its refineries.

The company added that it was able to sustain 80% capacity utilization despite a scheduled maintenance in one plant and a “situation” at another. It said that the fuel demand in Spain is growing.

Earnings just in marketing and refining jumped five-fold compared with the same period a year earlier, the company said in its May 14 release.