U.S. President Donald Trump has notified the partners of Venezuela’s state oil company PDVSA—including Spain’s Repsol—that their permits to export crude oil and derivatives from Venezuela have been canceled

The sale includes Repsol’s 45% stake in onshore Block CPO-9 (Akacias) in the Llanos Norte play, which is operated by Colombia’s state-run Ecopetrol (55%), and Repsol’s nonoperated interest in the promising Cosecha Block

Quarterly adjusted profit fell to 1.27 billion euros ($1.4 billion), ahead of a company-provided average forecast from analysts of 1.19 billion euros

Spanish energy firm Repsol said it will furlough up to 830 workers at its A Coruna and Puertollano refineries in Spain as pandemic restrictions have led to an “unprecedented” slump in demand for fuels

Spanish oil and gas firm Repsol posted a quarterly net loss and wrote down $1.5 billion in assets as it revised down unusually high expectations for oil and gas prices over the next 30 years