High oil prices boosted Repsol profits

Oil

Spanish oil company Repsol saw its first-quarter profits rise 12.4 percent to €643 million ($833 million), excluding results from YPF and Repsol YPF Gas, the Argentine units nationalized by the Buenos Aires government.

In an earnings report released Thursday the company attributed the strong results mainly to higher crude oil and gas prices, the return to some sort of normality in Libya and good results at Repsol's liquefied natural gas division.

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