Spanish multinational Repsol is considering to sell its stake in Gas Natural Formosa valued at Eur 4.5 billion (US $6 billion). However, it is holding off on selling its 30% stake up until it can finalize a deal with Royal Dutch Shell for the purchase of its two large plants in Peru and Trinidad and Tobago.
Miguel Martinez, CFO of Repsol, confirmed that the oil and gas company is not in a hurry to make any kinds of deal with anybody for its stake in Gas Natural. Nonetheless, he said that selling its stake in Gas Natural is "something we have to seriously think about."
Repsol exceeded its second-quarter revenue projection after production spiked 12%, a Reuters report said. During the said period, the company registered Eur 509 million in profits and that figure surpassed the forecast of Eur 402 million to Eur 481million.
Further company details revealed that despite the figures, the company has not adjusted its yearly production growth target of 10%.
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