Romgaz in 2014 obtained the highest profits in history of 316 million Euro

In late February, the natural gas producer Romgaz announced that 2014 concluded with the highest net profit in history, of almost 316 million Euro (1.4 billion RON), up by 44 per cent from the previous year

2015-04-03 20:53:35 - From the Print Edition

The company′s turnover increased by 15 per cent to 1.01 billion Euro (4.49 billion RON), due to higher prices of natural gas from domestic production, given that the delivered gas volume of Romgaz has remained relatively constant compared to last year. Romgaz profitability margin improved to 31 per cent compared to 25 per cent in 2013. According to Ziarul Financiar, the natural gas producer has spent more than 96 million Euro (427.9 million RON) investing in exploration, seismic surveys and drilling of 22 exploration sites.
Energy production of the company increased by 60 per cent to 1.7 TWh of electricity. Romgaz has a large steam power plant, and a smaller one, Cojocna, fuelled with natural gas directly from drills that are not connected to the transmission system. Under these conditions, Romgaz wants to remain this year as well the most generous of leading European oil and gas producers, intending to distribute as dividends 85 per cent of its record profit accomplished last year. The state company will offer to investors the best dividend yield of the European oilmen group of over nine per cent at the current quotation of the shares. The Romanian producer of natural gas will propose to shareholders a gross dividend of 0.79 Euro (3.15 RON) per share, with 13 per cent higher compared to 2014, the first full year after the stock exchange listing.