Repsol announced that its adjusted net income increased 35 percent in the first half of 2015 compared to the same period of last year, Spanish energy company said Thursday in a press release.
The company's adjusted net income was €922 million in first half of 2014 and rose to €1.24 billion during the first half of 2015, the press release showed.
Repsol's hydrocarbon production increased by 29.6 percent from 340 thousand barrels of oil equivalent per day, (boepd) to 440 thousands boepd.
The most significant increase was seen on downstream activity income with a 115.3 percent rise. This income went up to €973 million in the first half of 2015 from €452 million in the first half of 2014.
Repsol proclaimed that the integration of Canadian Talisman Energy enabled the company to surpass its strategic production and reserves targets, to become one of the 15 largest publicly-traded oil companies in the world.
Repsol announced its plans to acquire Canadian oil company Talisman Energy for $8.3 billion plus its debts in December 2014. The deal was approved by Repsol, Talisman's boards and its shareholders.
Repsol is an integrated oil and global energy company with upstream and downstream operations around the world. The company carries out its activities in more than 50 countries.
The price of Brent crude fell around 60 percent between June 2014 and Jan. 2015 to dive below $46 per barrel, its lowest level in almost six years, while marking the fastest slump since 2008. Since January, Brent crude's price recovered over 40 percent.
€1 = $1.09
By Muhsin Baris Tiryakioglu
Anadolu Agency
muhsin.tiryakioglu@aa.com.tr