Natural gas producer Romgaz recorded a net profit of 341 million euros in the first half of 2023. That is 2% lower compared to the same period last year.
In the second quarter, net profit fell by 4% to 145 million euros. Total revenues dropped by a third year-on-year to 991.5 million euros, due to lower sales of natural gas and electricity.
Gas consumption in Romania decreased by 12% in the first six months, compared to the same period in 2022. In the same period, Romgaz’s gas deliveries dropped by 6%. Its market share at the end of June stood at 49% (3% more than a year before). Natural gas production in the first half of 2023 was 2.383.3 billion cubic meters, which is a 5% increase year-on-year.
Romgaz’ electricity production reached 497.579 GWh, which is 9% or 47.08 GWh lower than in the first half of 2022. Romgaz has a 1.7% market share in Romania’s electricity production.
The company invested 68.8 million euros in the first half of the year, representing around 63% of the scheduled annual investment budget, excluding investments made in the Black Sea offshore project Neptun Deep, which it develops in partnership with OMV Petrom.