Romanian energy group OMV Petrom has increased its petroleum products deliveries by 14% in the third quarter of the year (Q3) compared to the same period of 2020, driven by the moderate recovery of the market but particularly by the outage of its rival Petromidia refinery that stopped operations after an accident on July 2.

Petrom’s refinery operated at 100% capacity in Q3, compared to 91% in the same period last year.

Another lucrative market for Petrom was that of electricity, where the prices soared amid a combination of factors.

Petrom’s power output doubled in quarterly terms and remained at a very high level at 1.37TWh in Q3 (4.2TWh in 2020 and 3.4TWh in 2019).

In the upstream sector, Petrom posted less impressive figures when it comes to the output of both natural gas (-15% YoY) and crude oil (-11% YoY).

As regards Petrom’s natural gas production, it may partly reflect the depletion of mature fields. The decline in production was, however, more than offset by the rising prices, though.

(Photo: Cristi Croitoru/ Dreamstime)

andrei@romania-insider.com