{"id":2338,"date":"2024-10-30T08:01:54","date_gmt":"2024-10-30T08:01:54","guid":{"rendered":"https:\/\/ofero.news\/?p=2338"},"modified":"2024-10-30T08:01:54","modified_gmt":"2024-10-30T08:01:54","slug":"omv-petroms-shares-gain-3-6-on-better-than-expected-q3-results","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=2338","title":{"rendered":"OMV Petrom\u2019s shares gain 3.6% on better-than-expected Q3 results"},"content":{"rendered":"<p>The shares of energy group OMV Petrom (BVB: SNP) surged by nearly 3.6% after the company released\u00a0<a href=\"https:\/\/bvb.ro\/infocont\/infocont24\/SNP_20241029073508_OMV-Petrom-Investor-News-Q3-2024.pdf?mc_cid=74806d6eba&amp;mc_eid=cd1f92f96c\" target=\"_blank\" rel=\"noopener\">Q3 results<\/a>\u00a0slightly above the market consensus on October 29. It was the biggest increase for SNP shares since October 3, 2022, when their price\u00a0rose by 4.07%, according to\u00a0<a href=\"https:\/\/www.zf.ro\/burse-fonduri-mutuale\/29-octombrie-2024-cea-buna-sedinta-omv-petrom-bursa-valori-bucuresti-22528719?mc_cid=74806d6eba&amp;mc_eid=cd1f92f96c\" target=\"_blank\" rel=\"noopener\">Ziarul Financiar<\/a>.<\/p>\n<p>The company reported its turnover dropped by 6% y\/y to RON 26.6 billion (EUR 5.3 billion) in January-September.\u00a0<\/p>\n<p>On the exploration and production side, the results decreased by 26% y\/y, the refining and marketing area fared better and ticked a 15% y\/y increase, and the operational result on the gas and energy segment decreased by 74% y\/y. Clean EBIT CCS contracted 23% y\/y to RON 4.77 billion and plunged 36% y\/y to RON 1.63 billion in Q3 alone.<\/p>\n<p>The company\u2019s Q3 results still arrived slightly above consensus, with clean EBIT CCS 3% above consensus according to Polish brokerage house Ipopema \u2013 which expected, however, even stronger (+5% versus consensus) results.<\/p>\n<p>On the downside, OMV Petrom updated its 2024 outlook by reducing the refining margin outlook to about USD 9\/bbl (from around USD 10\/bbl), reducing Brent oil price to USD 80-85\/bbl (down from around USD 85\/bbl), increasing production outlook to roughly 108kboe\/d (form over 106kboe\/d) and reducing CAPEX guidance to around RON 7.5 billion (down from up to RON 8 billion).\u00a0<\/p>\n<p>Moreover, OMV Petrom has put the 2025-2026 outlook under review.<\/p>\n<p><em>iulian@romania-insider.com<\/em><\/p>\n<p><em>(Photo source: Flickr\/OMV Petrom)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>The shares of energy group OMV Petrom (BVB: SNP) surged by nearly 3.6% after the company released\u00a0Q3 results\u00a0slightly above the market consensus on October 29. It was the biggest increase for SNP shares since October 3, 2022, when their price\u00a0rose by 4.07%, according to\u00a0Ziarul Financiar. The company reported its turnover dropped by 6% y\/y to [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2338","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2338"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2338\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}