Thus, the crude oil and condensate production was 4.1% lower than in the same period of 2022 and 1.8% lower than in the previous quarter, reaching 54,000 boe per day. The natural gas production was 2.3% lower than in the same period of 2022 and 1.4% higher than in the previous quarter, standing at 59,500 boeper day.
Total sales volume fell by 3.7% on the year in the third quarter of 2022 and by 0.7% versus the previous quarter, down to 107,900 boe per day. The realized crude price in July-September 2023 was $75.88 per barrel, higher than $67.62 in summer (Q2/2023) and $70.32 in spring (Q1/2023). In the same period of 2022, the price of oil crude oil was $89.14.
On the refining and marketing segment, the refinery utilization rate reached 95% in the third quarter of 2023, from 31% in the second quarter of 2023 against the backdrop of refinery turnaround, respectively from 99% in the third quarter of 2022. The refining margin climbed to $16.81 per barrel in the third quarter of 2023, from $11.17 per barrel in the previous quarter and $17.1 in the same period of 2022. Sales of refined products grew by 26.9% in the third quarter of 2023 (1.5 million tons) versus the second quarter of 2023 (1.19 million), remaining constant compared to the same period of 2022.
On the natural gas and electricity segment, Petrom sold gas to third parties of 8.6 TWh, higher than 6.92 TWh in the same period of 2022, but lower than 9.35 MWh in the previous quarter. The net electricity production at the Brazi power plant was 1.48 TWh, compared to 1.42 TWh in the same period of 2022 and 0% in the previous quarter against the backdrop of the turnaround.
OMV Petrom is 51.16%-owned by Austria’s OMV and SNP shares have traded 30% so far in 2023, amid deals worth RON1.3 billion, as per stock market data.