Spain's Repsol Says to Maintain Capex Thanks to Talisman

Reuters

MADRID, July 30 (Reuters) – Spain's Repsol said on Thursday it would maintain exploration capex at around $4.5 billion this year and next thanks to the addition of Talisman, contrasting with other peers that have cut costs in a backdrop of lower oil prices.

The Spanish oil firm also said capex excluding recently-acquired Talisman would have been down 27 percent and that core profits (EBITDA) were seen coming in at between 5 billion euros and 5.5 billion euros ($5.5-$6 billion) in 2015. ($1 = 0.9117 euros)

(Reporting by Tracy Rucinski; Editing by Julien Toyer)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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