OMV Petrom third quarter sales of gas and electricity down 22.7 percent

Newsroom 20/10/2014 | 13:09

Austrian oil company OMV Petrom has registered a 22.7 percent reduction of gas and electricity sales to 8.68TWh in the third quarter against the same period of last year, while hydrocarbon production lost 2.2 percent to 178,000 barrels of oil equivalent daily, reports Mediafax newswire.

At group level, meanwhile, the sales of gas and electricity rose by 37.2 percent to 117.92TWh, according to a statement by OMV.

Group hydrocarbon production has picked up to 311,000 barrels of oil equivalent daily in the third quarter from 275,000 barrels in the same period last year due to higher trading volumes.

OMV’s production went up by 5 percent against the second quarter this year. Sales rose in line with the gain in production in the same period. The company was hit by lower demand in Romania.

The company’s exploration expenditure fell to EUR 140 million after it concluded that several international fields were not viable.

Ovidiu Posirca

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