Adjusted net income was 572 million euros, compared with 928 million in the same quarter of the previous year, which included exceptional earnings of 500 million euros due mostly to the company’s dollar position after receiving funds for the expropriation of YPF, subsequently used for the acquisition of Talisman.

Statoil and Repsol announce transactions in Norway, UK, US and Brazil

Repsol SA said Thursday it will sell €6.2 billion ($7.1 billion) of noncore assets through 2020 as part of a cost-cutting drive, which also includes a significant cut in oil-exploration spending.

Spanish oil major Repsol said on Wednesday its net profit could fall by up to 22 percent in 2015, hit by low crude prices and a loss of value of some of its North-American assets which will trigger a big impairment charge in the third quarter.

Spain’s Repsol said Thursday it will axe 1,500 positions over the next three years as part of a cost-cutting effort. The cuts represent about six percent of the company’s workforce and staff have already been notified of the plan.The company declined to comment on how the cuts will be distributed throughout its operations.

Repsol, the Spanish oil group, is aiming to acquire Talisman Energy of Canada, in a deal that would value the target’s equity at up to $8bn

Africa oil industry refocuses priorities as price falls and setbacks bedevil groups

YPF seeks foreign partners to tap Argentina’s shale

Spain’s national government has moved once again to boost domestic oil and gas exploration

Statoil has signed farm-in agreements with Repsol, acquiring a 10% equity share in the Tayrona licence and a 20% equity share in the Guajira Offshore 1 licence.