OMV Petrom Group: results for Q2 and January – June 2014, including interim financial statements as of June 30, 2014
Q2/14 vs Q2/13
- Clean CCS EBIT decreased by 20%, burdened mainly by the one-month planned shutdown of the Petrobrazi refinery and the new construction tax in Romania
- Broadly flat hydrocarbon production in Romania, but lower volumes in Kazakhstan
- Petrobrazi refinery modernization successfully finalized; marketing sales affected by increased fuels taxation and intensified competition
- Negative contribution from power business triggered by deteriorated spark spreads
- CAPEX up 54%, due to refinery modernization and higher exploration expenditures, the latter reflecting increased activity in the Black Sea
OMV Petrom published its results for Q2 and January-June 2014, on August 12, 2014 at 8.30am (local time)/ 7.30am (CEST)/ 6.30am (BST).
The presentation by
- Mariana Gheorghe, Chairman of the Executive Board and CEO
- Andreas Peter Matje, Executive Board member and CFO
- Neil Anthony Morgan, Executive Board member responsible for R&M
was broadcast as a live webcast at 4.00pm (local time) / 3.00pm (CEST) / 2.00pm (BST).
A replay of the webcast is available on the link here below.
>>Click here to access the webcast