Hydrocarbon production of Romania’s largest oil and gas producer, OMV Petrom, fell by 7.2% y/y in Q2, of which gas production fell by 6.4% y/y. Even though total gas sales decreased from 50 to 47 thousand boe/day, those to third parties increased from 6.53 TWh in the same quarter last year to 8 TWh.
OMV Petrom extracted 102.2 thousand barrels of oil equivalent per day (boe/d) in the second quarter of the year, of which 53.8 thousand boe/d was gas and 48.4 thousand boe/d was crude oil, down 6.4% and 4.9%, respectively, compared to production in the second quarter of last year and the first quarter of this year.
Gas production was slightly over 6.3% below that of the first quarter of the year.
Gas sales to third parties, of 8 TWh, however, recorded an increase of over 20% compared to those in the second quarter of last year.
Electricity production was low, at only 0.61 TWh, more than 2 times below the quarterly average of the last 3 quarters. Petrobrazi’s refining margin was $10.27/barrel, above that of previous quarters.
iulian@romania-insider.com
(Photo source: Brandportal.omvpetrom.com)
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