Spanish oil company Repsol reported a drop in 3Q 2019 profit. Net profit for the quarter was 333 million euros, a 46,7% drop from 625 million euros in 3Q 2018. Adjusted net income in the third quarter was €522 million, 11% lower year-on-year.
In Upstream, adjusted net income was €218 million, €150 million lower than in the same period of 2018 mainly due to lower oil and gas realization prices. This was partially offset by higher production, lower exploration costs, the appreciation of the dollar against the euro and lower taxes as a result of a lower operating income.
Brazil Energy Insight 
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