Romania’s Romgaz announces 5% y/y lower natural gas production in H1

The total hydrocarbon production of Romanian state-controlled gas company Romgaz (BVB: SNG) decreased by 5.2% y/y in the first six months of the year, from 16.3 million barrels of oil equivalent (boe) to 15.4 million boe, according to a company’s note to investors.

In the second quarter, the company’s production was 7.4 million boe, 5.1% below that achieved in the same period of the previous year, Bursa.ro reported.

The amount of natural gas extracted amounted to 15.3 million boe in the first six months of the year, down 5.2% compared to that of January - June 2022, while the production of natural gas condensate amounted to 0.091 million boe, up 3.1% for the same reporting period.

Gas sales from domestic production, both from own production and purchased from third parties, decreased by 5.3% in the first six months of the year to 2.482 billion cubic meters.

(Photo source: Inquam Photos/Adel Al-Haddad)