No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Spanish oil producer Repsol targeted higher kerosene output as it reported a jump in first quarter earnings driven by higher prices caused by the Iran war.
Adjusted earnings before interest tax, depreciation and amortisation soared 110% to 2.61bn. Adjusted net income rose by more than 50% to 873m although this still missed company-compiled estimates of 897m.
The refiner said it was aiming to boost kerosene production by 15% to 20% as the Iran war caused a disruption to jet fuel supplies globally.
Higher refining margins led to a rise in adjusted earnings at Repsol's industrial division rose to 440m compared to 308m last year.
Reporting by Frank Prenesti for Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.