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October 25, 2021
COMPANIES ECONOMY ENERGY

OMV Petrom’s hydrocarbon production drops 100,000 barrels per day in 9 months

OMV Petrom’s hydrocarbon production in Q3 dropped 2.2 per cent year-on-year. In the same period last year, the company registered a production of 178,000 barrels of oil equivalent per day.
In Q2 of this year, OMV Petrom reported a hydrocarbon production of 181,000 barrels of oil equivalent per day, down from a production of 184,000 barrels of oil equivalent in Q1.

At group level, the production dropped by 6.1 per cent year-on-year from 311,000 to 292,000 barrels of oil equivalent. “The drop was determined by lower contribution on the part of production in Romania, where planned works on important wells took place, but also on the part of production in Norway. (…) The volume of sales was 7 per cent below the one registered the previous quarter, mainly as a result of smaller production in Norway and Romania,” an OMV Group report reads.

OMV Group’s volume of natural gas sales grew in Q3 from 19.5 TWh in the same period last year to 20.36 TWh. The net production of electricity grew in Q3 as a result of the improvement of the situation on markets in Turkey and Romania.

OMV Group controls OMV Petrom, having a 51 per cent stake in the company. The Romanian state owns 20.63 per cent of the company’s shares, through the Energy Ministry, Fondul Proprietatea (FP) owns 18.99 per cent and the rest of the shares are owned by other shareholders.

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