Repsol's Spanish refining margin indicator rises to $36.2 per barrel in the third quarter

en.Wedoany.com Reported - On October 6, Repsol released preliminary operating data for the third quarter of 2026. The Spanish refining margin indicator rose to $36.2 per barrel, compared with $14.0 per barrel in the second quarter, an increase of 158.6% quarter on quarter; in the third quarter of 2025, the indicator was $8.8 per barrel. The data disclosed by the company for the period are preliminary estimates, and the official third-quarter results are scheduled to be released on October 29.

In the third quarter, the utilization rate of distillation units in Repsol's Spanish refining business was 81.3%, compared with 78.6% in the second quarter, up 3.4% quarter on quarter; the utilization rate of conversion units was 97.6%, compared with 89.3% in the second quarter, up 9.3% quarter on quarter. Compared with the third quarter of 2025, the two utilization rates decreased by 4.7% and 3.6%, respectively.

During the same period, the company's chemicals margin indicator was €387 per tonne, compared with €569 per tonne in the second quarter, down 32.0% quarter on quarter; it increased by 50.0% from €258 per tonne in the third quarter of 2025. The refining margin indicator and the chemicals margin indicator moved in different directions in the third quarter.

Repsol's total oil and gas production in the third quarter is expected to be 574,000 barrels of oil equivalent per day, compared with 558,000 barrels of oil equivalent per day in the second quarter, up 2.9% year on year; of this, consolidated production was 354,000 barrels of oil equivalent per day, and North American production was 219,000 barrels of oil equivalent per day, up 21.0% year on year. Consolidated production in Latin America was 64,000 barrels of oil equivalent per day, and production in Europe, Africa and other regions was 71,000 barrels of oil equivalent per day.

In terms of international oil prices in the third quarter, the average Brent Dated price was $97.0 per barrel, compared with $103.8 per barrel in the second quarter; the average WTI price was $85.7 per barrel, compared with $92.7 per barrel in the second quarter. During the same period, the average Pool indicator in the Spanish electricity market was €122.1 per megawatt-hour, up 120.4% from €55.4 per megawatt-hour in the second quarter.