Romania, OMV Petrom’s hydrocarbon output dropped in Q2 2022, SEE Energy News
The hydrocarbon output of Romania’s largest oil and gas company OMV Petrom dropped to 121,100 barrels of oil equivalent per day in the second quarter of 2022, from 133,700 barrels of oil equivalent per day in the same period in 2021.
The statement from the company said that in the context of an extraordinarily high Urals-Brent differential, triggered by the geopolitical context, starting the second quarter of 2022, the transfer price between Exploration & Production and Refining & Marketing is now based on Brent instead of Urals, as Urals is no longer a relevant reference. The transfer price is at arm’s length and takes into consideration the quality difference between Brent and the currently produced crude mix. Sensitivities to changes of Brent crude price and the indicator refining margin remain unchanged.
OMV Petrom’s daily hydrocarbon production in the second quarter of 2022 was slightly lower compared to the first quarter, when it produced 121,300 barrels of oil equivalent per day.
Total daily hydrocarbon sales volume amounted to 115,500 barrels of oil equivalent per day in the April-June period, down from a daily 127,900 barrels in the same period of 2021.
Total sales of refined products rose to 1.32 million tons in the second quarter of 2022, compared to 1.24 million tons in the same period last year.
The volumes of gas sales to third parties fell to 8.68 TWh, compared to 9.57 TWh in the second quarter of 2021.
Net electricity output rose to 1.12 TWh in the first quarter, compared to 0.69 TWh the same period of 2021.