Repsol : Repsol cuts capex by 26% and halts the planned share buyback
>Repsol cuts capex by 26% and halts share buyback - Repsol announced that it will cut its capex by 26%, or € 1bn, in 2020, in line with our expectations and the rest of the sector, reduce opex by an additional € 350m and optimise its working capital by € 800m. It will also cancel the proposal to reduce its share capital by 5%, thus halting any share buybacks, but it will maintain its dividend and continue to offset any dilution linked to the existing scrip. §...Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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