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Romania: Decreased hydrocarbon output at OMV Petrom in Q3 2020

30.Oct 2020.

According to the statement from the Romanian largest oil and gas company OMV Petrom, its daily hydrocarbon production fell by 4 % compared to the second quarter of the year.  The hydrocarbon production of OMV Petrom dropped by 5.98 % year-on-year to 141,300 barrels of oil equivalent per day in the third quarter of 2020.

Total daily hydrocarbon sales volume was 133,300 barrels of oil equivalent in July-September 2020 period, down from a daily 142,200 barrels of oil equivalent in the same period of 2019.

Total sales of refined products fell to 1.38 million tons in the third quarter of 2020, compared to 1.49 million tons in the same period of last year.

The volumes of gas sales to third parties fell to 9.28 TWh during the mentioned period, compared to 11.22 TWh in the third quarter of 2019.

Net electricity output was 1.31 TWh in the third quarter, compared to 1 TWh the same period of 2019.

OMV Petrom recorded a net profit in the amount of 179 million euros in the first half of 2020, which is 56 % lower compared to the same period last year. Sales fell by 11 %, following a downtrend in commodity prices and lower sales volumes for petroleum products, partially offset by the increase in natural gas volumes sold. Downstream Oil represented 65 % of total consolidated sales, while Downstream Gas accounted for 33 % and Upstream for 1 %. In the second quarter only, OMV Petrom recorded a net profit of 44.3 million euros, down 74 % compared to the same quarter in 2019, driven in large part by lower crude and gas prices.