OMV Petrom says retail fuel prices dropped by more than 30 percent due to COVID-19

The lower oil prices and the COVID-19 crisis had a negative impact on OMV Petrom performance in the first quarter. The company says its retail fuel sales dropped sharply by more than 30 percent and the refinery utilization rate was adjusted to slightly above 80 percent.

OMV Petrom issued a trading update with basic provisional information on the economic environment as well as OMV Petrom Group’s key performance indicators for the quarter ended March 31, 2020. The OMV Petrom Group’s results for Q1/20 will be published on April 29, 2020.