OMV Petrom’s oil and gas production goes down 3.4%

OMV Petrom, the largest oil and gas producer in Romania, extracted 170,000 barrels of oil equivalent per day in the fourth quarter of 2016 (Q4 2016) down 3.4% compared to the same period of 2015, according to a report released yesterday by Austrian group OMV. Both the oil production and the gas production went down. However, OMV Petrom increased its gas sales to third parties by 16%, from 10.7 TWh in the fourth quarter of 2015 to 12.41 TWh in the same period last year. The sales increased although the gas production decreased from 96,000 barrels of oil equivalent per day in the last three months of 2015 to 92,000. OMV Petrom used less gas for electricity production. This went down 1.13 Twh in the last quarter of 2015 to 0.82 Twh in the last three months of 2016. editor@romania-insider.com