|2019-07-11 来源： 中国石化新闻网|
郝芬 译自 Platts
Repsol's Q2 upstream production drops 4% on year amid maintenance
Repsol's upstream oil and gas production in the second quarter of 2019 fell 4% year on year and 0.4% from the first quarter, amid maintenance in Trinidad and Tobago, and Peru, the Spanish integrated oil company said Tuesday.
Second quarter production was an estimated 697,000 b/d of oil equivalent, the company said in a regulatory filing. The figures are provisional with confirmed results due to be published July 24.
The outcome was a third successive quarter on quarter decline for the company and the lowest quarterly volume since Q3 2018, when it produced 691,000 boe/d.
The company earlier this year budgeted for production of 720,000 boe/d for 2019 and is targeting boosting the figure to 750,000 boe/d for 2020.
For the first half of 2019, production has averaged roughly 698,500 boe/d, down from an average of 715,000 boe/d for the full year 2018.
For Q2, the company's production volume declined year on year in three of its four producing regions.
In Latin America and Caribbean region -- which reported the largest decline -- volume declined 10% year on year and 8% quarter on quarter to 273,000 boe/d, due to the maintenance, Repsol said.
Q2 production averaged 169,000 boe/d in the North America region, down 3% year on year and down 2% quarter on quarter.
In the Asia and Russia region, Q2 production averaged 77,000 boe/d, down 4% year on year but up 4% compared to Q1 2019.
The Europe, Africa and Brazil region showed increased production in Q2, with output at 177,000 boe/d -- an increase of 10% year on year and 14% quarter on quarter.
In the downstream segment, the company's benchmark refining margin for Q2 fell 51% year on year and 34% quarter on quarter to $3.50 per barrel.
Repsol did not disclose if it made a premium to the benchmark during the period, having made a premium of around $1.15/b in the first quarter on the back of greater middle distillate production.
The company's Q2 utilization rate was 85.9%, down 3% year on year, and 7% lower quarter on quarter. Its Q2 conversion rate was 101.8%, down 2% on an annual basis and down 0.3% quarter on quarter.
Repsol owns and manages five refining complexes in Spain -- Cartagena, Corunna, Bilbao, Puertollano and Tarragona -- with a total capacity of around 896,000 b/d.
The company this year has brought forward some of its maintenance operations in the run up to the International Maritime Organization's roll-out of marine fuel-related regulations from the start of next year.