Friday, October 21, 2011

OMV Petrom Gas, Oil Production Declined 1.6% in Third Quarter

Oct. 21 (Bloomberg) -- OMV Petrom SA, Romania’s largest oil company, said third-quarter oil and natural-gas production declined 1.6 percent from the previous three months.

Output fell to 184,000 barrels of oil equivalent a day from 187,000 in the second quarter as “new wells could not fully compensate outages caused by bad weather,” the Bucharest-based company’s majority owner, OMV AG, said today in a statement.

Third-quarter gas sales volumes dropped 20 percent to 840 million cubic meters from 1.05 billion cubic meters in the previous quarter as higher import prices weakened margins in Romania, according to the statement.

--Editor: James M. Gomez

To contact the reporter on this story: Irina Savu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

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