In July-September 2013, OMV Petrom posted gas and power sales volumes of 11.24 TWh, the report noted.
Petrom’s hydrocarbon production slightly fell 2.2% to 178,000 barrels oil equivalent (boe) a day in the third quarter, compared with 182,000 boe a day in the same period a year earlier.
On a group level, gas sales and trading volumes rose significantly on the year in July-September, to 117.92 TWh, from 85.94 TWh in the corresponding period a year earlier, solely due to higher trading volumes, OMV said.
Although the group’s sales were negatively impacted by lower gas sales volumes and margins in Romania as well as the gas margin in Turkey, the supply, marketing and trading business performance improved mainly due to the renegotiated gas supply contracts with Gazprom and Statoil, the company said.
The performance of the power business, which was partly offset by a negative average spark spread in Romania, improved on the year in the third quarter, mainly due to the positive contribution of the power plant Samsun in Turkey.
The group’s total hydrocarbon production rose to 311,000 boe/day in the third quarter, from 275,000 boe/day in July- September 2013.
Production levels in the third quarter increased by 5% compared with the second quarter as production in Libya partially resumed and production continued to ramp up in Norway. Nevertheless, the results were partly offset by slightly lower production volumes in Austria and Romania.
The company’s quarterly results were also negatively impacted by the development of oil prices, according to the report.
In September, OMV Petrom completed the upgrade program at Petrobrazi refinery, developed between 2010 and 2014, following EUR600 million investments.
OMV Austria holds a 51.01% stake in OMV Petrom, Romania’s Economy Ministry owns 20.64%, investment fund Fondul Proprietatea holds an 18.99% stake, while 9.36% of the shares are traded on the Bucharest Stock Exchange.
On the Bucharest market Monday, OMV Petrom traded down 0.02% at RON0.429 a share. (EUR1=RON4.4176)