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OMV Petrom's hydrocarbon output shrinks by 13% y/y in Q1
OMV Petrom (BVB: SNP) said that its crude oil and natural gas production declined by 13% and 12%, respectively, in the first quarter of 2022 compared to the same period in 2021, according to a report filed on Friday at the Bucharest Stock Exchange.
The decline is in line with the natural depletion of the deposits, yet perhaps slightly steeper compared to the medium-term dynamics.
Petrom's total hydrocarbon production fell by 13% to about 121,000 barrels of oil equivalent per day in Q1 this year, the company said. The total sales volume was 116,500 boe per day or -11% YoY.
(Photo source: Flickr/OMV Petrom)