Spanish oil major Repsol YPF SA (REPYY.PK) Thursday reported a surge in net income to 1.612 billion euros from 195 million euros registered in 2013 when the company booked one-time cleanup charges related to the expropriation of YPF.
Adjusted net income climbed 27 percent to 1.707 billion euros, despite the abrupt fall in international crude prices in the second half of the year that led to a 606 million-euro negative effect on earnings for the financial year, and the interruption of activity in Libya.
Regarding its acquisition of Talisman Energy (TLM.TO,TLM), Repsol said that after the approval of the operation by the Talisman Energy General Shareholder's Meeting held on February 18, Repsol hopes to obtain the necessary permits and regulatory authorizations to close the transaction in the second quarter of 2015.
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