OMV Petrom's hydrocarbon production falls 13.5 pct in Q3

OMV Petrom's hydrocarbon production fell by 13.5 percent in Q3 from the same period last year to 122,800 barrels of oil equivalent (boe) per day, shows a report submitted on Friday to the Bucharest Stock Exchange.

The company's daily output in Q3 2020 was 144,300 boe.

The production of crude oil and condensate dropped 13.3 percent to 60,900 boe per day, while gas production was 15.2 percent down to 61,900 boe per day.

On the other hand, the company significantly improved its refining margin indicator from USD 0.94 per barrel to USD 7.19 per barrel, while the refinery utilization rate increased from 86 percent to 100 percent.

OMV, one of Austria's largest listed industrial companies, holds 51.01 percent of OMV Petrom's stake, the Romanian state - through the Energy Ministry - has 20.64 percent, and the rest is held by other shareholders.