Romanian group OMV Petrom’s output, down 7,5% yoy in Q1
The largest company on the Bucharest Stock Exchange (BVB) by capitalization, OMV Petrom (SNP, EUR 5 billion), published its key operational indicators for the first quarter of the year (Q1), indicating a 7.5% year-on-year decline of its…
Andrei Chirileasa · Journalist
· Updated · 1 min read
The largest company on the Bucharest Stock Exchange (BVB) by capitalization, OMV Petrom (SNP, EUR 5 billion), published its key operational indicators for the first quarter of the year (Q1), indicating a 7.5% year-on-year decline of its total hydrocarbon production to 138,900 barrels of oil equivalent (boe) per day.
The total volume of hydrocarbon sales was 131,000 boe per day, down 7.35% yoy, of which crude oil and condensate sales amounted to 69,600 boe per day (-5.81% yoy), and natural gas sales were 61,500 boe per day (-9% yoy).
On the upside, the average price of crude oil during this period was USD 50.92 per barrel, USD 13.7 more than in Q4 last year and USD 10.32 or 25.4% more than in Q1 of 2020.
The refinery utilization rate was 95% compared to 96% in Q1 of 2020. However, the refining margin decreased from USD 6.75 per barrel in Q1 of 2020 to USD 2.80 per barrel in Q1 this year.
On the Downstream Oil side, total sales of refined products decreased by 4.16% yoy to 1.15 mln tonnes. The Downstream Gas division sold 30.6% less gas to third parties (11.65 TWh).
The net electricity production has not changed much compared to last year: 1.18 TWh, compared to 1.12 TWh in Q1 of 2020.
(Photo source: Flickr/OMV Petrom)
