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OMV Petrom's gas sales decreased in the first quarter by 18%

Jun 17th 2015 at 1:07 AM

Natural gas sales of Petrom decreased in the first quarter of this year by 18% to 13.47 TWh, mainly due to a milder winter and lower demand from power plants, according to a statement released Wednesday by the group Austrian OMV. In the first three months of last year, Petrom's gas sales totaled 16.38 TWh.

Lower demand for gas and the lower level of withdrawals of deposits have decreased profit margins at Petrom and EconGas, OMV's Austrian division. EconGas's gas sales volume fell by 23% in the first quarter compared to the same period last year.

At the group level, the volume of gas sold and traded by OMV in the first quarter decreased by 2.9% compared to the corresponding period of 2013 to 131.82 TWh, from 135.78 TWh, due to weaker demand. Trading activities accounted for 71% of the gas business. OMV Group hydrocarbon production rose in the first three months of this year to 311,000 boe per day, compared to 302,000 bpd in the last quarter of last year or 277,000 barrels per day in the first quarter of 2013.

Petrom production was 182,000 boe per day in the first quarter, a level close to that recorded in the corresponding period last year. Before indicative registered OMV refining operations climbed to $ 1.63 per barrel compared to $ 1.16 per barrel in the fourth quarter last year but down from $ 3.01 per barrel in the first three months 2013.

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