It said operating cash flow reached RON3.2 billion in the first half, up 7% on the year. The company paid dividends of RON1.1 billion in the first half.
Petrom said the six-week turnaround of its Petrobrazi refinery impacted the Downstream oil operating result by RON150 million and led to unrealized profits of RON260 million. The company expects this effect to be reversed over the remainder of the year, as stored crude is processed and crude inventories are reduced to normal levels.
The company invested around RON2 billion in the first half of the year, almost double compared with the same period last year. It said its free cash flow after dividends reached RON93 million in the first half of 2018.
OMV Petrom reported consolidated sales of RON9.85 million in the first half, up 6% on the year, driven by higher crude oil and natural gas prices and higher electricity volumes sold.
For the second quarter, OMV Petrom posted an operating profit of RON735 million, lower compared with RON892 million in the second quarter of 2017, as the positive impact from a better market environment was offset by the Petrobrazi refinery turnaround.
Second quarter operating cash flow reached RON1.4 billion and free cash flow after dividends stood at RON637 million.
Consolidated sales in the second quarter stood at RON4.97 billion, up 8% on the year.