1050 GMT - Repsol's joint venture with NEO Energy makes sense given the U.K. government's fiscal policy on oil and gas developments, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. The joint venture continues a trend seen across U.K. North Sea exposed companies because it allows operators to pool resources and allocate less capital in the region while continuing to grow, they write. Repsol's 2024 capital expenditure in the U.K. was around 200 million euros and the entity is expected to be de-consolidated on the deal closing, the analysts write. Shares trade up 0.7% at 12.50 euros.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
March 27, 2025 06:50 ET (10:50 GMT)
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