repsol sa-sponsored adr (REPYY) Key Developments
Caixabank Reportedly Mulling Partial Sale Of 12% Repsol Stake
Apr 10 15
CaixaBank, S.A. (CATS:CABK) is looking into the sale of only part of its 12% stake in Spanish oil major Repsol, S.A. (CATS:REP) to its parent company Criteria CaixaHolding, S.A. prior to merger with Servihabitat XXI, S.A.U. (Criteria), a source with knowledge of the matter told Reuters on Friday. The source, speaking on condition of anonymity, added no final decision had yet been taken on the sale. Isidro Faine, Chairman of both Caixabank and Criteria, had said in an interview with the Financial Times that the lender would be ready to sell its stake in Repsol, but gave no additional detail.
CaixaBank Planning To Sell Stake in Repsol
Apr 9 15
CaixaBank, S.A. (CATS:CABK) is planning to sell of its 12% stake in Repsol, S.A. (CATS:REP). Isidro Fainé, Chairman of CaixaBank states, "We may decide to sell the stake in Repsol."
Repsol, S.A. Proposes Amendments to the Provisions of the By-Laws
Mar 31 15
Repsol, S.A. announced that at its AGM to be held on April 29, 2015, the shareholders amendment of the provisions of the By-Laws relating to the Shareholders' Meeting and its powers; amendment of the provisions of the By-Laws relating to the Board of Directors, its Committees and the Directors; amendment of the provisions of the By-Laws relating to the information instrument of the Company.
Repsol, S.A., Annual General Meeting, Apr 29, 2015
Mar 31 15
Repsol, S.A., Annual General Meeting, Apr 29, 2015., at 12:00 Central European Standard Time. Location: Palacio Municipal de Congresos. Agenda: To review and approve of the Annual Financial Statements and Management Report for fiscal year ended 31 December 2014; to consider appointment of the Accounts Auditor; to consider proposed application of profits for 2014; to consider increase of share capital; to consider second capital increase; to consider Share Acquisition Plan 2016-2018; to consider amendment of the provisions of the By-Laws; to consider amendment of the Regulations of the Shareholders' Meeting; to consider re-election of directors; to consider the Remuneration Policy for Directors; to vote on Annual Report on Directors' Remuneration for 2014; to consider revocation of the resolution to reduce the capital; and to issue fixed income securities, debt instruments, promissory notes, hybrid instruments and preference shares.
Repsol Reports Unaudited Earnings and Production Results for the Fourth Quarter and Full Year Ended Dec. 2014
Feb 26 15
Repsol reported unaudited earnings results for the fourth quarter and full year ended Dec. 2014. During the fourth quarter of 2014, the company posted a net loss of €34 million, compared with a net loss of €1.092 billion during the same year-ago period. Adjusted net income was €370 million compared to €123 million a year ago.
The company posted 2014 net profit of €1.61 billion, an eight-fold increase over last year when its results were hit by provisions related to Argentina's nationalization of its subsidiary YPF. Average recurring net profit, adjusted for one-time gains and inventory effects, jumped 27.1% to €1.7 billion ($1.9 billion) as higher oil production and refining margins offset falling oil prices and the interruption of its activities in Libya. Refining margins rose by 24% to $4.1 a barrel, one of the high levels among European oil firms, which pushed net income at its downstream unit up 111%. On a current-cost accounting basis, which strips out changes in the value of inventories and makes the results comparable with US oil company results, net adjusted profit rose 11.7% in 2014 to €4.75 billion. Adjusted net income was €1,707 million compared to €1,343 million a year ago. This result is especially significant considering the complex environment, especially the abrupt fall in international crude prices in the second half of the year, resulting in a €606 million negative effect on earnings for the financial year, and the interruption of activity in Libya.
For the quarter, the company reported oil and gas production was 371,000 boepd compared to 321,000 boepd a year ago. Crude processed was 9.9 million tons compared to 8.8 million tons a year ago.
The company said its average hydrocarbon production increased in 2014 by 2.5% to 354,000 barrels of oil equivalent a day. This includes 32,000 barrels of oil equivalent a day of new production from projects in Bolivia, Brazil, Peru, Russia and the United States. Crude processed was 39.5 million tons compared to 38.1 million tons a year ago.