Romania's top oil and gas group OMV Petrom [BSE:SNP] said that its hydrocarbon production dropped by an annual 4.1% to 116,300 barrels of oil equivalent (boe) per day in the first quarter of 2023.
Compared to the fourth quarter of 2022, OMV Petrom's daily hydrocarbon production decreased by 1.44% in the first quarter of this year, the company said in a trading update filed with the Bucharest Stock Exchange on Wednesday.
The production of crude oil and non-gas liquids (NGL) reached 56 kboe per day in the first quarter of 2023, down from 58.3 kboe per day in the same period of the previous year. Natural gas production also decreased, to 60.3 kboe per day from 63 kboe per day.
Total daily hydrocarbon sales volume amounted to 111.4 kboe per day in the January-March period, down from 116.5 kboe per day in the same period of 2022.
The average realised crude price dropped from $80.34 (72.88 euro) per barrel in the first quarter of 2022, to $70.32 in the like period of this year.
Total sales of refined products edged up to 1.24 million tonnes in the first quarter of 2023, from 1.21 million tonnes in the like period of the previous year.
The volumes of gas sales to third parties increased to 11.06 TWh in the first quarter, from 10.66 TWh a year earlier.
Net electricity output at the company's Brazi power plant edged down to 0.97 TWh in the first quarter, compared to 0.99 TWh in the same period of 2022.
OMV Petrom said it will publish its first-quarter financial report on April 28.
Austria's OMV Aktiengesellschaft holds a 51.157% stake in OMV Petrom. The Romanian economy ministry owns 20.698% and 28.145% is the free float on the stock exchanges in Bucharest and London.
Shares in blue-chip OMV Petrom traded 0.04% lower at 0.4888 lei ($0.0989/0.109 euro) by 1219 CET in Bucharest on Monday.
(SeeNews, April 13, 2023)
