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.