Repsol posts net income of 608 million euros in the first quarter

The downstream unit earned 404 million euros, with particularly good performance from Refining, Trading, and Chemicals.

Repsol posted net income of 608 million euros in the first quarter of 2019, in line with the 610 million euros earned between January and March of the previous year.

The first quarter of 2019 was marked by oil prices lower than those recorded in the same period of the previous year, with Brent trading at an average of 63.1 dollars per barrel.

Repsol made progress in the development of its electricity and gas business by signing significant agreements with wholesalers and securing new customers.

The partnership with El Corte Inglés is expanding to Repsol’s mobile payment app, Waylet, which will be available for use in mid-June at all of the chain’s stores, with exclusive promotions and discounts.

Investment in the downstream unit during the first three months of the year amounted to 189 million euros.