6 May
Spain’s Repsol has registered an adjusted net income of $482 (€447m) in the first quarter of this year. The company has also adopted a new plan for this year that includes further trimming its expenses to improve capital flow amid the Covid-19 crisis.
Go deeper with GlobalData
A Nigerian official told Reuters that oil revenues may fall by more than 80% as Covid-19 pandemic plummeted fuel demand. Due to the impact, the national economy is also expected to contract by 3.4%. Nigeria is Africa’s top oil exporter where oil sales generate more than 90% of foreign exchange earnings.
French oil and gas major Total has reported an adjusted net income of $1.78bn in the first quarter of this year, a 35% drop from $2.76bn reported in the same period a year ago. However, the company kept its first-quarter dividend stable at €0.66 per share. It has also committed to reducing emissions from its energy products to net-zero by 2050.
Occidental Petroleum has again cut its 2020 capital programme to between $2.4bn and $2.6bn due to current market conditions. The company also reported a net loss of $2.2bn attributable to common stockholders in the first quarter of this year as it was hit by $1.4bn in impairment charges.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
