Spanish oil major Repsol said in a trading update this week it expects its upstream oil and gas production to average 700,000 barrels of oil equivalent per day in the first quarter.

The document available to investors and shareholders is based on preliminary data. The final Q1 financial and operational results for the company will be published on May 5, Kallanish Energy reports.

Production during the Jan-March period was 1.42% higher than a year ago, and 2.73% lower than the previous quarter. Most of the output volumes were reported in Latin America, followed by North America. Volumes in Europe and Africa, which includes operations in Libya, fell 11.1% y-o-y and 23.2% q-o-q.

Meanwhile, Repsol saw growth in its North American production both on an annual and quarterly basis, increasing 30.2% and 11.4%, respectively. The region accounted for 224,000 Boe/d of total production.

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