Petrom Group: results for Q3 and January - September 2012

• Q3/12 vs. Q3/11: Clean CCS EBIT up 2% mainly due to FX impact, while clean CCS net income attributable to stockholders decreased by 20% due to significantly lower financial result
• Q3/12 E&P CAPEX advanced 10% against Q3/11, while total CAPEX reached RON 1,178 mn, 6% lower vs. Q3/11 due to lower investments in R&M and G&P
• In E&P, production was stabilized vs. Q2/12 and was only slightly lower against Q3/11
• Compared to Q3/11, G&P clean EBIT benefited from the positive contribution of the power business (both the Brazi power plant and the Dorobantu wind park) and better gas business result
• Gradual restart of Petrobrazi refinery after six-week planned shutdown; marketing business remained under pressure
  
  Mariana Gheorghe,CEO of OMV Petrom S.A.:"In the third quarter of 2012 our operational result was overall in line with the same period of last year, mainly supported by a stronger USD against RON. The high crude price environment continued to benefit our performance in E&P, whilst marketing sales volumes and margins weakened. We focused our investments in the E&P segment to stabilize our hydrocarbon production, and continued our exploration efforts in the deep offshore Black Sea, as we prepared for acquiring new 3D seismic studies. In line with our strategic directions, we commenced commercial operations at Brazi power plant which starting September is supplied with domestic gas only. Moreover, we are pursuing new growth opportunities in the neighboring Black Sea region, in joint venture with ExxonMobil. Going forward, we plan to further pursue our investments in the range of EUR 0.8-1.2 bn p.a. for the coming years, assuming robust market fundamentals and investment-friendly regulatory and fiscal regimes."

Petrom Group: results for Q2 and January - June 2012 (PDF, 464,5 KB)