OMV Petrom’s gas sales down 18% in first quarter

Romanian oil and gas company OMV Petrom’s natural gas sales decreased by 18 percent in the first quarter of the year, to 13.47 TWh, mainly due to a milder winter and lower demand from power plants, according to a statement of Austria’s OMV.

In the first three months of last year, the company’s gas sales totaled 16.38 TWh.

At a group level, the volume of gas sold and traded in the first quarter decreased by 2.9 percent compared to the same period in the previous year, to 131.82 TWh, from 135.78 TWh. Trading activities accounted for 71 percent of the gas business.

Petrom, owned by Austrian OMV, budgeted a profit of RON 3.93 billion (some EUR 880 million) for 2014, down from the record level reported for 2013, of RON 4.83 billion (EUR 1.09 billion).

Romania’s OMV Petrom expects lower profit this year, after record EUR 1 bln profit in 2013

editor@romania-insider.com

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