Bogdan Tudorache

OMV Petrom announced consolidated sales increased by 11% compared to Q1/18, to 5.4 billion lei supported by higher commodity prices in lei terms and higher sales volumes of electricity and petroleum products. The Clean CCS Operating Result increased by 28% to 1.2 billion lei supported by positive evolution, both in Upstream, triggered by higher prices, and in Downstream, as a result of higher sales volumes of fuels and electricity. Net income was 1.15 billion lei, mainly reflecting favorable developments in the Clean CCS Operating Result, while the capital expenditure amounted to 826 million lei in Q1/19, 2% lower than in Q1/18, consisting mainly of Upstream investments.

The company also announced it paid 2.8 billion lei worth of taxes in the period ending in March. ”Following the adoption of GEO 114/2018 and GEO 19/2019, OMV Petrom Group must supply 12.5 TWh of gas to the regulated market at a price of maximum 68 lei/MWh for the period May-December 2019 and 1.14 TWh of power at a regulated price of 259.58 lei/MWh for the period March-December 2019”, Petrom said.