In January-September 2013, the company posted net profit of RON796.9 million.
Romgaz said its revenue for the analyzed period rose 27% year-on-year to RON3.29 billion, mainly due to higher sales of gas from domestic production. The company sold 3.8 billion cubic meters of gas from internal production in the first nine months, up 7.6% on the year, at a 28.6% higher average price, of RON673.8 per thousand of cubic meters.
Operating expenditure rose by around 10% to RON2.2 billion, mainly due to tax costs. Romgaz said its royalty costs went up following the natural gas price increase, while the company had to pay starting this year a tax on special constructions.
The company’s natural gas production was stable at around 4.2 billion cubic meters in the January-September period.
Romgaz raised its capital expenditure in the analyzed period, as it invested RON751 million, an increase of 29% above the level registered in the first nine months of 2013.
Romania’s economy ministry owns 70% in Romgaz, while investment fund Fondul Proprietatea has a 10% interest.