All posts by Carmen Gomaro

Carmen Gomaro - leading international news and investigative reporter. Worked at various media outlets in Spain, Argentina and Colombia, including Diario de Cádiz, CNN+, Telemadrid and EFE.

Repsol earns 13% less due to the drop in gas prices, but maintains its profit above pre-covid levels

The decline in gas prices has impacted Repsol’s first-quarter performance. The company, led by Josu Jon Imaz, reported a net result of 969 million between January and March, a decrease of almost 13% compared to the same period last year. However, the figure remains higher than pre-pandemic levels, excluding the years affected by the Ukraine invasion in 2021 and 2022.

The adjusted net result, which excludes extraordinary factors such as price fluctuations, was 1,267 million, a decline of 624 million compared to the first three months of 2023.

The decrease in profits was greater than the decline in revenue. Repsol’s sales amounted to 15,083 million up until March, a 1.4% decrease compared to the same period in 2023. Investments reached 2,129 million euros, with more than half allocated to low-carbon activities, including the acquisition of ConnectGen, a developer of renewable electricity projects in the United States, for 715 million.

This investment focus led to an increase in net debt, which stood at 3,901 million euros at the end of the quarter, more than double the figure at the end of 2023 (2,096 million euros).

In the Exploration and Production segment, the adjusted result was 442 million, a 7% decrease compared to the same period in 2023. Total production reached 590,000 barrels of oil equivalent per day. Repsol attributed this decline to lower gas prices, increased depreciation, higher exploration and production costs, and the divestment of productive assets in Canada, which had a negative impact of 17 million euros.

In the Customer business, the adjusted result was 156 million, 18 million less than in the same period of 2023. The decrease was primarily due to lower results in Mobility and LPG, offset partially by higher results in Electricity and Gas Marketing, Lubricants, and Aviation.

Historically, Repsol’s performance has been tied to the fluctuation of oil and gas prices, but the company’s diversification strategy has helped mitigate the impact of these swings.

The company aims to double its customer base in electricity and gas, reaching 4 million by 2027, and strengthen its position in the electricity marketing market, where it is already the fourth-largest operator with a 6% market share. Repsol’s multi-energy approach has attracted attention in the electricity sector and has resulted in legal action from Iberdrola, accusing Repsol of “unfair competition and ecological money laundering.”

Survivors of an Israeli attack on a humanitarian flotilla embark again: "It is a dangerous mission but we are prepared"

a previous incident. She emphasizes the importance of remaining calm and united in the face of aggression. Arraf advises the activists to document the attack through photos and videos, capturing any acts of violence or misconduct by the Israeli forces. She stresses the significance of sharing this evidence with international media outlets, human rights organizations, and legal authorities to hold the attackers accountable. Arraf also highlights the need for self-defense tactics such as non-violent resistance and passive resistance, while acknowledging the difficulty of defending oneself against heavily armed aggressors. She encourages activists to stay informed about their legal rights and to seek legal assistance if necessary. Overall, Arraf empowers the international activists to respond strategically and resiliently to an Israeli ambush, while also raising awareness about the ongoing injustices faced by Palestinians in international waters.

Papa Wu, the monk who has rescued 600 pregnant (and abandoned) women in China

Before embarking on a life of monasticism, prior to his decision to become a guardian angel for pregnant women without resources and abandoned by their partners, and before he transformed his house into an orphanage, Wu Bing (49 years old) was a successful businessman with a flourishing cotton factory in Nantong, a bustling city on China’s east coast.

It was 12 years ago when Wu, who was married and had a young daughter, started going to a Buddhist temple in Nantong every day to meditate silently, finding solace in the scent of burning incense amidst the crisis brewing in his marriage. As fate would have it, he eventually got divorced and, driven by a surge of faith, made the life-altering decision to become a monk. He sold his factory, bid farewell to his comfortable urban lifestyle, and relocated to the mountains of Fujian province, seeking solace in a remote temple far from the clamor of the world.

Unfortunately, the tranquility and refuge from worldly woes that Wu had hoped to find in Fujian turned out to be quite the opposite. The secluded temple in Fujian had transformed into a peculiar sanctuary for pregnant women burdened with personal struggles.

The majority of these women, hailing from impoverished backgrounds, had been forsaken by their partners upon conceiving and lacked any financial support from their families. Additionally, there were also teenagers who concealed their pregnancies from their parents and sought guidance at the temple on whether to proceed with the pregnancy or consider other options.

Unintentionally, Wu found himself confronted with this harsh reality and made the heartfelt decision to assist these women. With a part of the dilapidated temple serving as a makeshift refuge, he opened a free shelter and wholeheartedly accompanied expectant mothers throughout their journey, from prenatal care to childbirth, shouldering all the associated expenses. With time, the temple transformed into a safe haven for dozens of newborns as well.

Through word of mouth, news spread across southern China of a refuge nestled in the Fujian mountains, offering respite to pregnant women and single mothers facing financial hardship. Consequently, an increasing number of women flocked to the temple, eventually leading the abbot to expel Wu, instructing him to find an alternative location for his shelter.

The determined monk then relocated to a villa in Zhejiang, located in eastern China, which he had purchased with the proceeds from selling his factory. This became the new home for his shelter, aptly named the Protective Dwelling.

Four years ago, Wu began sharing videos on Douyin, the Chinese equivalent of TikTok, documenting the daily life at the shelter. The videos garnered considerable attention on social media, attracting numerous donations. Capitalizing on the popularity of these videos, Wu and the women began selling vegetarian food and tea online to support the children’s upbringing. Volunteers from different corners of the country also started lending their support, offering to care for the infants.

The Chinese media caught wind of this remarkable story, and the monk quickly earned the affectionate nickname “Papa Wu.” In a recent Douyin video, Wu proudly proclaimed that since 2012, he has managed to rescue and support 600 single women who found themselves pregnant and unable to provide for their children.

In the poignant words of Papa Wu, “I once aided a woman who, at seven months pregnant, had just tragically lost her parents in a car accident, only to discover that her boyfriend had vanished, having emptied her bank accounts.”

Half a century since the Carnation Revolution: from illusion to disenchantment

It was an unprecedented moment in history that left the world in awe. The Portuguese army, led by a small group of captains who had kept their plans a secret, took to the streets and overthrew the long-standing dictatorship in just a few days. This remarkable event took place on April 25, 1974, and has since become a national holiday in Portugal.

What made this revolution even more extraordinary was the peaceful nature of the uprising. The Portuguese society joined forces with the military, who were fed up with the dictatorship and the never-ending colonial wars. In a symbolic act, a waitress distributed carnations to the soldiers, who then placed them in the barrels of their rifles. This act gave the revolution its name – the Carnation Revolution.

The impact of this peaceful uprising reverberated across the globe, inspiring hope not only in Portugal but also in countries like Spain, which was under Franco’s regime at the time. The movement showcased the power of small gestures and acts of defiance, such as the corporal who locked himself in his tank to prevent himself from shooting at the revolutionaries.

In the years that followed the revolution, Portugal underwent a radical transformation. The infant mortality rate significantly dropped, illiteracy rates decreased, and public liberties and civil rights, including women’s equality, were consolidated. The country’s entry into the European Economic Community in 1986 further accelerated its modernization and democratization.

However, fifty years after April 25 and almost forty years since joining the EU, some of the initial expectations have not been fully realized. Challenges such as access to housing, low salaries, and the decline in public services have led to a sense of pessimism among the Portuguese society. This, in turn, has impacted the democratic ideals that the revolution had fostered.

Despite these challenges, the majority of the Portuguese people still hold a positive sentiment towards April 25 and the achievements of the revolution. Surveys indicate that satisfaction with Portuguese democracy has increased over the years, and the majority considers April 25 to be the most important moment in the country’s history.

Half a century ago, Portugal showed the world the power of peaceful revolution and the possibility of transitioning from dictatorship to democracy. While there are still unresolved issues, analysts agree that the democratic system in Portugal is strong and continues to progress.

Germany and the United Kingdom will jointly develop a guided howitzer for future land military operations

The news is buzzing with the upcoming visit of the British Prime Minister, Rishi Sunak. On Tuesday, he made headlines by choosing Poland as the venue to confirm a multimillion-dollar aid package for Ukraine, which had been announced by his office earlier. And now, on Wednesday, the Germans are gearing up for an important announcement from 10 Downing Street – Germany and the United Kingdom have planned a collaborative effort to develop a cutting-edge guided howitzer for future military operations on land.

According to the statement released by 10 Downing Street, the “joint effort” will focus on the development of remotely controlled 155-millimeter wheeled artillery systems (RCH 155), which will find their place on Boxer vehicles manufactured by German tank manufacturer Krauss-Maffei Wegmann (KMW). This revolutionary howitzer will be capable of firing up to nine 155-millimeter caliber artillery projectiles per minute, with a range of up to 40 kilometers. What sets it apart is its ability to fire while on the move, making it an excellent choice for evading enemy fire.

This collaboration between Germany and the United Kingdom is yet another example of the resurgence in arms development prompted by the conflict in Ukraine, as well as the imperative to fortify the European security architecture in the face of the Russian threat. Stressing the importance of strengthening Europe as a pillar of the NATO strategic alliance, Chancellor Olaf Scholz expressed his determination to enhance the continent’s deterrence capacity in case of conflict.

Scholz also lauded Germany and the United Kingdom for being Ukraine’s staunchest supporters on the European continent. He found it heartening and essential that the United States Congress had allocated funds to aid the country in the face of Russian aggression. Emphasizing that Ukraine would not be abandoned by its allies, Scholz added that Germany and the United Kingdom stood firmly by its side.

Although the United Kingdom has been outside the European Union for over four years, it remains a significant ally for Germany in NATO, the Group of Seven (G7), and the Group of 20 (G20). Alongside Germany, the UK is the primary European supplier of weapons to Ukraine.

When questioned about Chancellor Scholz’s refusal to supply Taurus cruise missiles to Ukraine, which was reiterated earlier, Sunak chose not to respond directly. However, he emphasized that each country contributes differently. He also commended Germany’s decision to provide Ukraine with another air defense system, the Patriot, and praised Chancellor Scholz for it.

In a reciprocal gesture, Chancellor Scholz expressed his understanding for the UK’s plans concerning illegal migration. However, he added nuanced perspectives, stating that dialogue and cooperation on migration would continue while respecting fundamental rights and international law. He also stressed the importance of focusing on legal channels for immigration, which are deemed necessary for economic growth in Germany.

Recently, the British Parliament passed a controversial asylum pact, which states that migrants entering the UK without authorization will be deported to Rwanda, regardless of their origin. The law designates Rwanda as a safe third country. As a consequence, unauthorized migrants will no longer have the opportunity to apply for asylum.

The Arrufats are looking for a financial partner to grow Proeduca, the digital education empire that was born with UNIR

the formal negotiations have not yet begun. Miguel Arrufat, the CEO of Proeduca Altus, stated that they are looking for financial partners who can provide strategic and financial support to expand their business globally. With the growing demand for digital education, Proeduca Altus aims to capitalize on this opportunity and become a key player in the industry.

Proeduca Altus offers a wide range of online courses, including undergraduate and postgraduate degrees, professional development programs, and language courses. Their partnership with UNIR has helped them to build a strong reputation in the education sector and attract a large student base. The company’s innovative approach to online learning, combined with its high-quality content and experienced faculty, has made it a preferred choice among students worldwide.

The search for financial partners is expected to attract significant interest from investors looking to tap into the promising digital education market. With the COVID-19 pandemic accelerating the shift towards online learning, Proeduca Altus is well-positioned to capitalize on this trend and further expand its market share.

As the education sector continues to evolve, Proeduca Altus is committed to staying at the forefront of innovation and delivering exceptional educational experiences to its students. By partnering with the right investors, the company aims to scale its operations, enhance its technology infrastructure, and offer a broader range of courses and services. This strategic move will not only benefit Proeduca Altus but also contribute to the overall growth and development of the digital education sector.

U8, from car to luxury 'cruise'

You may be familiar with BYD, the pioneering electric car manufacturer that has been in Spain for a year now, offering six models in its lineup. But that’s not where the story ends. Above BYD, there is the premium brand Denza. And even further up the ladder, there is the ultra-luxurious Yangwang, with no compromises whatsoever.

One of Yangwang’s standout offerings is the U8, an SUV that is more of a wardrobe than a vehicle. With its colossal dimensions – 5.3 meters in length, 2 meters in width, and nearly 2 meters in height – the U8 is making waves in China. It’s a true powerhouse on the road.

Isotrol, the Sevillian company that cares about understanding the electricity market so that others don't have to do it

If Isotrol were an electricity company, it would manage a power equivalent to the production of 142 reactors like that of the Almaraz I nuclear power plant. However, Isotrol distinguishes itself from other electricity companies as it doesn’t directly produce electricity, but rather plays a vital role in enabling and optimizing the production of clean energy. Isotrol’s cutting-edge control software enables the efficient management of over 150 GW of renewable energy, predominantly in Europe (102.5 GW according to company data), with a significant presence in North America (31.7 GW) and Latin America.

Massive demonstrations in favor of the public university put the first limit on Javier Milei's political experiment

This Tuesday, Javier Milei encountered the first major brake on the political experiment he leads, and with which he intends to turn Argentina into one of the most liberal countries in the world.. After four months of insistent attacks and disqualifications of those who do not agree with his project, the Argentine president worked a miracle, almost a mixture of water and oil: he united in the same demonstration Peronists, radicals, social democrats, students, professors, the two labor confederations and even ultraliberal legislators.

“The UBA defends itself!” was the cry in the center of Buenos Aires, already collapsed since midday by the tens and tens of thousands of people who converged towards Congress, first, and the Plaza de Mayo, later, to leave a message at the doors of the Casa Rosada: “In defense of public education”. The demonstration has been the most important since Milei came to government on December 10 of last year.

The University of Buenos Aires (UBA) is a center of higher education founded in 1821 and where Argentines and foreigners can graduate for free. Although the UBA led the protest, it has spread to several provinces, with a strong axis in Córdoba, in the center of the country.. The National University of Córdoba is the oldest in Argentina, founded in 1613, and more than 50,000 people came out to defend it throughout the day.. In November, Milei won in Córdoba with 76% of the votes.

The dispute between the government and the universities arose from the financing of the very extensive network of public universities, which a good part of Argentines identify with the power of their extensive middle class and the possibility of social advancement.. The UBA counts among its pride the five Argentine Nobel Prize winners, who were students and, in some cases, professors in its faculty.. The UBA also gave the country 16 presidents.

“How can I not defend the public university, if it made me what I always wanted to be? A biologist defending nature. I think my parents would not have been able to pay for a private university,” Juan Cruz Martín, a 27-year-old biologist who joined the march, told EL MUNDO.

“I am the son of Spanish immigrants, and I owe the possibility of social advancement to the free public university,” repeated in recent days Jesús Rodríguez, Raúl Alfonsín's Minister of Economy in the '80s.

In those years, the Argentine democratic spring, no one raised what is repeated today from sectors of Milei's government and from the president himself: the UBA spends its budget in an obscure way, which is nourished by public resources, and promotes ideological indoctrination.

The “indoctrination” thing falls by its own weight: Milei has among its ministers several graduates of the UBA. Budget management is another matter: public universities have their academic and budgetary autonomy guaranteed, but the government maintains that their management of funds must be audited, since the university would be a kind of 'black box' of politics, especially of radicalism, a party that historically leads the student centers of Argentine higher education houses.

While this dispute is being resolved, the UBA accuses the government of intentionally defunding it. “The budget cut is 61%, and the salary reduction in the four months that Milei has been governing is 35%,” said Matías Ruiz, head of the UBA's Treasury. “We are excited by the support we are receiving from the civil society in this situation,” Ruiz added.

Guillermo Francos, Milei's Minister of the Interior, believes that the protesters are not aware of what is happening: “We are all understanding, except for those who are marching today, who still do not understand what the situation in the country is.”

Among those who dissent from Francos are legislators from La Libertad Avanza (LLA), Milei's party. Nine deputies in the province of Buenos Aires, the most powerful in the country, expressed their differences with the government in a statement: “We express once again our commitment to defending public education, the historic pride of our country.. The healthy discussion that the national government has proposed to have regarding the size of the State and its responsibilities, can in no way affect the fulfillment of its essential obligations.”

But the president, increasingly in his castle, has resorted to social networks to disqualify the march and point out its “politicization”. Milei “liked” or spread several posts in which it is stated that the mobilization is against the audit for the use of university budget funds.

“An image that he shared several times was one taken in the direction of the Plaza de Mayo, where flags with slogans and the logos of the CGT (General Confederation of Labor) and the Communist Party can be seen.. “Any doubt that it is a political march and not a student one?” o “This is how Plaza de Mayo is prepared for the march: logos of the CGT, and the symbol of the communist hammer and sickle. Ah, but the march is not political, eh,” said some of the posts that the president retweeted on the social network

The march comes hours after Milei addressed, on Monday night, a 15-minute message to the country in which he celebrated the first quarter of financial surplus in 18 years, although several economists pointed out that this result was reached thanks to the postponement of an important series of payments by the State.

France is preparing a series about its first lady: six episodes under the title 'Brigitte, a free woman'

unique revised text:

This is a remarkable story that captivates the attention of people worldwide. It transcends borders and resonates deeply with many audiences. Their encounter took place when she was a seasoned 40-year-old teacher with three children, and he, a prodigious 16-year-old student. Fate brought them together in a school setting, fostering a profound connection that had to be concealed due to societal norms. However, their love endured the test of time, and years later, he mustered the courage to find her, resulting in a joyous reunion and marriage. Presently, he holds the esteemed position of the President of the French Republic while she radiantly shines as the nation’s First Lady.

This extraordinary narrative