about us | newsletter | contact | archive | members area
Gabriel Pantelimon, Xerox
Romania has also become known for its high quality human resources»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

OMV Petrom Group's profit in Q1 up by 38 per cent to 854 million RON

OMV Petrom Group recorded in the first quarter of 2018 a profit of 854 million RON, up by 38 per cent year-on-year, when it stood at 618 million RON, the company announced on Thursday.

2018-05-03 11:15:25

In the last quarter of 2017, the net profit stood at 642 million RON. The value of consolidated sales increased slightly, up by 5 percent, compared to the first semester of 2017, on the back of an increase in prices of oil products and natural gas and bigger volumes of electricity sales, partially counterbalanced by smaller volumes of natural gas sales and smaller prices for electricity.

Sales from Downstream Oil represented 70 percent of consolidated sales, while Downstream Gas represented 28 percent and those Upstream 2 percent. Upstream sales are largely sales inside the Group, not towards third parties.

The company's investments increased in the first three months of the year to 843 million RON, up by 139 per cent year-on-year, when it stood at 353 million RON. It includes mainly investments in Upstream, which total 653 million RON in Q1 2018, compared to 324 million RON in Q1 2017. The increase in investments was triggered mainly by the intensification of drilling activities and preparations connected to the general revision of the refinery, the company said.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1519 Views
Daily Info
Transelectrica accelerates investments to increase the energy system safety in Dobrogea

The National Power Grid Company Transelectrica marked the completion of the second stage of the project of rehabilitation of the Station Transformation 400/110/20 kV Tulcea We...

CTP: smart expansion in a growing market

CTP, the most dynamic logistics and industrial parks developer in the country, will soon become a "millionaire" in square meters of premium logistics space. The company experi...

New regulations adopted by ANRE will have a strong negative impact on consumers and endanger 4.500 jobs, says ACUE

The electricity distributors members of the Federation of Associations of Energy Utility Companies (ACUE) are deeply concerned about the negative impact on networks and consum...

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, in ...

Vodafone to lay off 1,700 service center employees in Romania, India and Egypt

Vodafone, one of the biggest telecom groups in the world, will lay off 1,700 employees from its service centers in Romania, India and Egypt, in this financial year, the group'...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
New Government reshuffle in Romania to take place in October

A new reshuffle of the Government is supposed to take place in early October, according to the Socialist-Democrat Party (PSD) Liviu Dragnea. He said that, together with the...

Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

1 Comment

Ambassador Klemm: Women are directly affected by digital exclusion

Women are directly affected by digital exclusion, US Ambassador to Bucharest Hans Klemm said Monday at the opening of the Digital Romania International Forum.

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, ...

President Iohannis to hold CSAT meeting on September 4 for budget revision

Romanian president Klaus Iohannis has summoned on September 4 the members of the Supreme Council of National Defence (CSAT) to approve the budget revisions for institutions...

1 Comment

Engie acquires Romanian IoT company Flashnet, specialized in Smart Public Lighting

ENGIE announces the acquisition of 60 per cent of Flashnet, a Romanian Internet of Things (IoT) company.

1 Comment

Romania gets 450 million Euro loan from EIB for rural development programme

The European Investment Bank (EIB) is lending 450 million Euro to Romania to finance its national contribution to the implementation of the Romanian Rural Development Progr...