Spain's Repsol posts net loss in Q3 on falling prices
MADRID (AP) — Spanish energy company Repsol says it posted a net loss in the third quarter owing to the slump in oil prices and U.S. asset write-downs.
Repsol S.A. said Thursday it lost 221 million euros ($237 million) July through September, compared to a profit of 319 million euros for the same period in 2014.
Repsol said the loss was mainly due to falling prices and a 443 million euro one-off write down on the asset value of its U.S. gas and power divisions.
Shares in the company were down 3 percent to 11.8 euros in early morning trading in Madrid.