Romania's Petrom reports over EUR 650 mln profits three quarters into 2012
Romanian oil and gas company Petrom ended the first three quarters of the year with a net profit of EUR 652 million, down 1 percent on the same period of 2011. Sales were however up 14 percent, to some EUR 4.3 billion.
Romania Insider · Journalist
· Updated · 1 min read
Romanian oil and gas company Petrom ended the first three quarters of the year with a net profit of EUR 652 million, down 1 percent on the same period of 2011. Sales were however up 14 percent, to some EUR 4.3 billion.
“In the third quarter of 2012 our operational result was overall in line with the same period of last year, mainly supported by a stronger USD against RON. The high crude price environment continued to benefit our performance in E&P, whilst marketing sales volumes and margins weakened,” said Mariana Gheorghe, CEO of Petrom. “Moreover, we are pursuing new growth opportunities in the neighboring Black Sea region, in a joint venture with ExxonMobil. Going forward, we plan to further pursue our investments in the range of EUR 0.8-1.2 bn p.a. for the coming years, assuming robust market fundamentals and investment-friendly regulatory and fiscal regimes,” she went on. editor@romania-insider.com (photo source: Arhivafoto.ro)
