At the end of Q1/2024, production stood at 111,700 boe/d.
On the other hand, average Brent prices rose from $78.05 in April-June 2023 to $84.97 in Q2/2024, hence by 7.6%. Prices reached $83.16 in the first three months of the year.
„The OMV Petrom Group’s results for Q2/24 will be published on July 31, 2024. The information contained in this trading update may be subject to change and may differ from the final numbers of the quarterly report,” according to the company’s representatives.
Total hydrocarbon sales volume hit 105,000 boe/d in the second quarter of the year, down 3.4% against the year-earlier period. In Q1/2024, the volume totaled 106,500 boe/d.
The average realized crude price in April-June stood at $75 per barrel, from $73.27 in Q1/2024 and $67.62 in Q2/2023.
Gas sales volumes to third parties reached 6.53 TWh in Q2/2024, down 28.8% from the previous quarter and 30.2% from the same period of 2023.
In Gas and Power, changes in legislation starting April 2024 and the planned outage of the Brazi power plant are expected to have a significant negative impact on the clean Operating Result in Q2/24.
OMV Petrom shares have added 44.7% in the past 12 months and 34.7% since the start of 2024.
Valued at RON48 billion, OMV Petrom ended Q1/2024 with RON1.4 billion net profit, down 6% from Q1/2023, amid RON8.5 billion turnover, down 10% year-on-year.
(English version by Catalina Apostoiu)