Romania's OMV Petrom Q4 Hydrocarbon Output Sips 1.1% y/y

The hydrocarbon production of Romania's top oil and gas group, OMV Petrom [BSE:SNP], fell 1.1% on the year to 181,000 barrels of oil equivalent per day (boe/d) in the fourth quarter of 2013, its majority owner, Austria’s OMV, said on Thursday.

On a quarterly basis, Petrom's output inched down 0.5% in the fourth quarter of 2013, OMV said in its quarterly trading statement.

OMV also said that Petrom's gas sales volume fell to 13.56 terawatt-hours (TWh) in the fourth quarter from 14.44 TWh a year earlier. In the third quarter of 2013, Petrom's gas sales volume totalled 11.24 TWh.

Petrom’s gas sales volumes decreased by 6.0% on the year due to weak demand from the industrial sector and above average temperatures. Its gas margins were below last year’s level, the statement added.

Blue chip OMV Petrom was trading up 0.06% at 0.4685 lei ($0.1414/0.1036 euro) by 1047 CET on the Bucharest bourse on Thursday.

Source: SeeNews