Romania's OMV Petrom Sees 4% Slide in Output in Q3

OMV Petrom, Romania's biggest oil and gas producer, saw a 4% quarter-on-quarter slide in its output in the three months ending September 30, marking the third quarterly decline in a row.

The company lifted 141,300 barrels of oil equivalent/day in Q3 2020, down from 147,300 boe/d in the previous three months and 150,300 boe/d a year earlier, it said on October 8. Gas extraction averaged 72,500 boe/d in the period, down from 76,200 boe/d in Q2 2020 and 79,400 boe/d in Q3 2019. Oil and natural gas liquid output fell to 68,000 boe/d, from 71,100 boe/d in Q2 2020 and 70,900 boe/d in Q3 2019.

OMV Petrom is 51%-owned by Austria's OMV, while the rest of its shares are either owned by the Romanian state or are freely floated. The company is due to present its financial results for Q3 2020 on October 29.