OMV Petrom (SNP) reported a CCA net profit excluding special items of 8.4 billion lei, in the first nine months, almost three times higher compared to the same period last year, according to a report submitted to the Bucharest Stock Exchange.
Key aspects of the first nine months
Group
Group
- CCA operating result excluding special items of 10.1 billion lei, in the unprecedented context of high and volatile commodity prices, generated by the geopolitical context
- Value of investments of 2.3 billion lei, increasing by 25%
- The contribution to the state budget increased to approximately 15 billion lei, almost double
- Total direct taxes of 7.1 billion lei, more than 5.5 times higher, increase mainly determined by the higher level of taxation for natural gas and the recently introduced tax on electricity
Exploration and Production
- Operating profit excluding special items was 4,357 mil lei, compared to 1,226 mil lei in 1-9/21, mainly due to higher crude oil and natural gas prices and positive exchange rate impact, partially offset by higher tax high and lower production
- Production in Romania, excluding outsourcing, fell by 6.5%, mainly due to natural decline in the main fields, but was partially offset by a higher contribution from new wells
- Production cost increased 3% to $13.05/boe due to increased service and energy costs and lower available-for-sale production, partially offset by positive exchange rate impact and a non-recurring item in in connection with a tax audit
Refining and Marketing
- CCA operating profit excluding special items was 3,157 million lei compared to 1,491 mil at 9/1/21, reflecting favorable refining margins, higher fuel demand and good operational performance
- OMV Petromiii Refining Margin Indicator at $15.85/bbl, supported by better product differentials, mainly diesel, gasoline and jet fuel
- Refinery utilization rate at 94%, similar to 1-9/21, above regional average utilization rate
- Retail sales volumes up 2%
Gas and Energy
- Operating result excluding special items of 2,810 million lei compared to 337 million lei at 1-9/21; very good result from the natural gas activity, mainly due to transactions concluded outside Romania, as well as a very good result from the electricity activity
- Natural gas sales volumes 8% lower amid a 14% drop in total market demand
- Net electricity production of 3.53 TWh, the highest so far since the start of commercial operations 10 years ago, representing 9% of Romania's electricity generation mix
Significant events
- Progress Strategy 2030
- OMV Petrom took over the operator status of Neptun Deep on August 1
- OMV Petrom and Complexul Energetic Oltenia invest in the production of electricity from photovoltaic source
- OMV Petrom has installed 110 photovoltaic panels in OMV and Petrom stations in Romania and aims to expand to 150 units by the end of 2022
- OMV Petrom produced the first volumes of sustainable aviation fuel at Petrobrazi
- OMV Petrom and Auchan Romania reached the number of 240 MyAuchan stores in Petrom stations, at the end of September 2022
- OMV Petrom has launched OMV MyStation, the new application with exclusive offers for its customers
- OMV Petrom has completed the first photovoltaic park providing green energy for its own operations
- OMV Petrom distributed total dividends of 4.5 billion lei, of which 2.5 billion lei were special dividends
