Repsol to sell assets, cut spending

Repsol SA plans to sell €6.2 billion ($7.1 billion) in non-strategic assets and to further cut costs over the next five years in order to streamline operations due to the current low oil price environment, according to Associated Press.

Repsol’s 2016-2020 strategic plan includes a 38% cut in spending without altering the company’s profile. The company says it intends to keep dividend payments stable despite weak oil prices.

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