Spanish oil company Repsol saw its first-quarter profits rise 12.4 percent to (EURO)643 million ($833 million), excluding results from YPF and Repsol YPF Gas, the Argentine units nationalized by the Buenos Aires government.

In an earnings report released Thursday, Repsol YPF SA attributed the strong results mainly to higher crude oil and gas prices, the resumption of production in Libya after the violent insurrection ended there, and good results at the liquefied natural gas division.