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Game on

2 October 2015 By Fiona Maharg-Bravo

Repsol’s balance sheet looks stretched. It’s good it has exceeded its $1 bln asset sale target but the $13 bln Talisman deal leaves a burden. It will struggle to finance capex and dividends in a $50- $60 oil environment. It needs a game plan for its forthcoming strategy day.

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