OMV Petrom Hydrocarbon Production Flat On Year In 1Q/2017

The total hydrocarbon production of Romania's OMV Petrom (SNP.RO), majority owned by Austria's OMV, stagnated at 170,000 barrels of oil equivalent (boe) per day in the first quarter of 2017, the same level reached in the fourth quarter of 2016, according to preliminary data released by the company o

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Imaginea articolului OMV Petrom Hydrocarbon Production Flat On Year In 1Q/2017

OMV Petrom Hydrocarbon Production Flat On Year In 1Q/2017 (Imagine: Gabriel Petrescu/ Mediafax Arhiva Foto)

The biggest hydrocarbon production on the upstream segment was reported in the second quarter of 2016, reaching 177,000 barrels per day. In the first three months of 2016, it was registered a production of 175,000 barrels per day and in the third quarter it was registered a production of 174,000 barrels per day.

Of the total hydrocarbon production, of 170,000 barrels per day, registered on the upstream segment in the first three months of 2017, 76,000 represented the production of crude oil and condensate and 94,000 represented the natural gas production.

The total volume of hydrocarbon sales reached 14.3 million barrels of oil, in the first quarter, on the upstream segment. The average realized crude oil price reached $45.09 per oil barrel.

On the downstream oil segment, the „refining margin” indicator reached $7.58 per oil barrel, in the first quarter of 2017. The refinery utilization rate stood at 95%, while total sales of refined products reached 1.13 million tons.

The results of OMV Petrom group for the first quarter of 2017 will be released on May 11, 2017, according to the company.

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