Romania: Decrease in Romgaz’ Q1 2021 hydrocarbon output

, SEE Energy News

Romanian natural gas producer Romgaz said that its total hydrocarbon production fell by 3.7 % year-on-year in the first quarter of 2021 to 8.48 million barrels of oil equivalent.

The statement from the company said that gross gas production decreased by 3.7 % to 8.43 million barrels of oil equivalent. Gas from domestic production delivered to the market in the first quarter of 2021 increased by 14.1 % to 1.649 billion cubic meters, while electricity production fell by 22 % year-on-year to 202.1 GWh.

Romgaz recorded a net profit in the amount of 257 million euros in 2020, which is a 15 % year-on-year increase. The company’s revenues decreased by 20 % to 835 million euros in 2020. Revenues from natural gas sales dropped by 25 %, while revenues from underground gas storage operations rose by 13 %, as well as revenues from electricity sales, which increased by 30 % in 2020. In 2020, Romgaz produced 4.519 billion cubic meters of natural gas, which is 14 % less than in 2019. On the other hand, electricity production almost doubled in 2020, reaching 937 GWh.