Repsol Half-Year Repor 2022

• Repsol obtains net income of €2.539 billion in a volatile environment
• 56% Of adjusted net income from international business
• +€150M On fuel discounts for customers of the company’s service stations in Spain

Approximately half of the net result, €1.206 billion, corresponds to the accounting valuation of the inventories that the company stores as a strategic reserve for Spain. These inventories, which the company has increased in the last quarter, reinforce Repsol’s capacity to guarantee supply, even in volatile situations such as those experienced around the world since the start of the health pandemic and the war in Ukraine.

The notable increase in this item, which almost tripled with respect to the first six months of the previous year, is explained by the progressive rise in the prices of hydrocarbons and their derivatives, conditioned mainly by the tensions generated by the invasion of Ukraine. The price of Brent crude oil was 66% above the same period of 2021, reaching an average of $107.9 per barrel in the first half of the year. For its part, Henry Hub natural gas averaged $6.1 dollars per MBtu, 118% more than between January and June 2021.