In 2010, OMV Petrom reported a net profit of RON1.79 billion.
The company estimates sales revenue (excluding excise tax) of RON12.69 billion in 2011, down 9% from RON13.95 billion a year before, the report says.
In 2011, Petrom plans to produce 62.08 million barrels of oil equivalent, down 7.4% compared with 67.08 million boe in 2010. Its natural gas production is estimated to drop 2.5%, from 5.16 billion cubic meters to 5.029 billion cubic meters.
Petrom, which is owned by Austria’s OMV, also forecasts lower sales for its refined products in 2011, at 4.26 million tons, from 5.47 million tons a year before.
Petrom’s main targets for this year are upgrades in the refining and marketing segment, offsetting the natural decline of the oil and gas reserves and starting the electricity production at the thermal power plant from Brazi and the Dorobantu wind farm.
The company plans investments of RON4.94 billion in 2011, down 1.6% on the year.
Petrom’s 2011 budget will be discussed by the shareholders on April 26.
Friday in Bucharest, Petrom shares closed up 5.5% at RON0.44, valuing the company at RON24.9 billion.