According to Reuters, Repsol has reached an agreement to sell its Peruvian and Ecuadorian LNG businesses to Chile’s Abastible. The sale is worth a combined US$335 million at current exchange rates.
Nonetheless, Reuters also reports that the company is still planning to continue its exploration and production activities in Peru and Ecuador following these sales.
The company reportedly stated that both sales will close in the next few months, with capital gains determined based on the currency exchange rate that is finally used.
Spanish company Repsol has revealed major plans designed to increase growth through extensive use of the company’s upstream wing over the next four years.
The Spanish company Repsol has posted a higher than expected Q1 income despite suffering losses as a result of the Argentinian government’s decision to nationalise YPF.