Petrom Group: results for Q1 2014
Q1/14 vs Q1/13
- Clean CCS EBIT decreased by 6%, mainly burdened by the new construction tax in Romania, with lower oil prices and deteriorated refining margins also impacting the result
- E&P: Hydrocarbon production was broadly stable, with slightly higher volumes in Romania; exploration acreage enlarged with Midia Deep block
- G&P: Depressed market demand induced lower gas and electricity sales volumes
- R&M: Improved result due to contained costs and higher refinery utilization rate, in spite of lower marketing volumes
- CAPEX increased 25%, dedicated mainly to E&P projects
You can download the presentation of the results here:
Results Q1 2014, (PDF, 211,5 KB)
The results will also be reviewed within OMV's analysts and investor conference call broadcast as a live audio-webcast at 11.30 am (CEST)/12.30 (Bucharest time).
The information necessary to connect to the audio-webcast can be found by accessing this link.