Romania, OMV Petrom dropped to 121,300 barrels of oil equivalent per day in the first quarter of 2022

, SEE Energy News

The hydrocarbon output of Romania’s largest oil and gas company OMV Petrom dropped to 121,300 barrels of oil equivalent per day in the first quarter of 2022, from 138,900 barrels of oil equivalent per day in the same period in 2021.

The statement from the company said that, in the first quarter of 2022, the indicator refining margin increased significantly due to the exceptional geopolitical context, which led to unprecedentedly high Brent–Urals differentials and high international product quotations. However, retail and commercial margins were significantly lower due to the company’s moderate pricing policy.

OMV Petrom’s daily hydrocarbon production in the first quarter of 2022 was slightly lower compared to the fourth quarter of 2021, when it produced 122,200 barrels of oil equivalent per day.

Total daily hydrocarbon sales volume amounted to 116,500 barrels of oil equivalent per day in the January-March period, down from a daily 131,000 barrels in the same period of 2021.

Total sales of refined products rose to 1.21 million tons in the first quarter of 2022, compared to 1.15 million tons in the same period last year.

The volumes of gas sales to third parties fell to 10.66 TWh, compared to 11.65 TWh in the first quarter of 2021.

Net electricity output fell to 0.99 TWh in the first quarter, compared to 1.18 TWh the same period of 2021.