cesa 265 million euros in the first quarter of 2022, triple the 75 million euros earned in the same period in 2021, thanks to the rise in crude oil prices, the increase in production and “solid results” in the Chemistry business. in a statement released by the company on Tuesday.
This gross operating profit Owned by Abu Dhabi’s sovereign fund Mubadala Investment Company and Carlyle, the company’s capital was €605 million in the first quarter of this year, compared to €324 million in the same period in 2021.
“This has been another quarter of solid results at Cepsa, with good performance across all our financial metrics. These results come after the presentation of our new strategy ‘Positive Motion’ for 2030, which shows an ambitious path for Cepsa. A leader in green hydrogen, biofuels and electric mobility. “, Cepsa CEO declared, Maarten Wetselaarin the note.
Specifically, the area Exploration and Production Thanks to this, the company saw a significant improvement in adjusted gross operating profit of € 384 million (compared to € 171 million in the same period in 2021). increase in crude oil prices (67% higher than in the first quarter of 2021 and 27% higher than in the fourth quarter of 2021) and increased productionIt reached 81,500 bpd, well above the 74,200 bpd recorded in the fourth quarter of 2021 due to the reduction of OPEC quota restrictions, the increase in production in Abu Dhabi and operational improvements at the sites. to reject.
On the other hand, the region Chemical Reported adjusted gross operating profit of €110 million (compared to €100 million in the first quarter of 2021 and €106 million in the last quarter of 2021) with similar volumes and strong and sustainable margins despite higher gas prices – Megawatt-hours a year ago From 20 euros per megawatt-hour to close to 100 euros per megawatt-hour – and electricity was recorded this quarter – at prices four times higher than in the first quarter of 2021.”
region Energy also Thanks to the improvement, it achieved good figures with adjusted gross operating profit of 143 million euros, which is almost double that achieved in the same period of 2021 (€89 million) and in the fourth quarter of 2021 (€108 million). most refinery work (called ‘Energy Parks’ in the company) an average of $2.5 per barrelCompared to $1.9 per barrel in the same period of 2021. commercial space sales (fuel demand) decreased by 8% compared to the fourth quarter of 2021 as a result of the transport strike, but increased by 8% compared to the same quarter of 2021.
Source: Informacion
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