Gas sales to third parties amounted to 9.17 TWh, up 3.3% quarter-on-quarter, but down 17% year-on-year. However, the company notes that “the information contained in this trading update may be subject to change and may differ from the final numbers of the quarterly report”.
The OMV Petrom Group’s results for Q1/24 will be published on April 30, 2024.
Crude condensate production reached 53,500 boe/d, 4.5% smaller year-on-year. OMV Petrom also registered declines in natural gas production, which at end-March amounted to 58.1 boe/d, down 3.65%.
On the refining and marketing segment, the refinery utilization rate reached 93%, from 98% in Q1/2023. The refining market slid from $16.61 per barrel in the first three months of last year to 12.56 in Q1/2024, a 24.4% decrease.
The company has a RON42.4 billion capitalization, after its shares have gained 18.4% since the start of the year and 40.2% in the past 12 months.
For 2023, OMV Petrom reported RON38.8 billion sales income, down 37% from the previous year, and a RON4 billion net profit, 61% lower.
(English version by Catalina Apostoiu)