OMV Petrom's Q4'20 Daily Hydrocarbon Output Drops 7.6% Y/Y

The hydrocarbon production of Romania's top oil and gas group OMV Petrom [BSE:SNP] dropped 7.6% on the year to 140,200 barrels of oil equivalent (boe) per day in the fourth quarter of 2020, the company said on Thursday.

Compared with the third quarter, OMV Petrom's daily hydrocarbon production edged down 0.77%, the company said in a trading update providing key performance indicators.

Total daily hydrocarbon sales volume amounted to 133,300 boe during September-December, down from a daily 143,100 boe in the same period of 2019.

Total sales of refined products fell to 1.27 million tonnes in the fourth quarter of 2020, compared to 1.41 million tonnes in the like period of the previous year.

The volumes of gas sales to third parties fell to 10.62 TWh during the period under review, compared to 17.11 TWh in the fourth quarter of 2019.

Net electricity output was 1.18 TWh in the fourth quarter, compared to 1.26 TWh the same period of 2019.

OMV Petrom said it will publish its fourth-quarter financial report on February 4.

Austria's OMV Aktiengesellschaft holds a 51.011% stake in OMV Petrom. The Romanian economy ministry owns 20.639% and 28.35% is the free float on the Bucharest Stock Exchange (BVB) and the London Stock Exchange.

Its market capitalisation amounts to 21.977 billion lei ($5.5 billion/ 4.5 billion euro), according to BVB data.

Shares in blue-chip OMV Petrom traded 0.50% lower at 0.3970 lei by 1328 CET on the BVB on Thursday.

(SeeNews, January 14, 2021)

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