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Repsol reports higher income in first quarter, petchem sales volumes rise

10:34 AM MDT | May 9, 2014 | Natasha Alperowicz

Repsol (Madrid) has reported a 27% rise in first-quarter net profit, to €807 million ($1.11 billion). Petrochemicals sales were also up 27%, reaching 653,000 m.t. The company a license agreement with Jilin Shenhua in China boosted earnings in Repsol's chemicals division. Repsol, at the end of last year, signed a technology license agreement with Jilin Shenhua for a flexible polyols plant with capacity of 185,000 m.t./year and for two polymeric polyols plants, each designed to produce 24,000 m.t./year. Under the terms of the deal, Repsol, in...

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