Romgaz Profits Stable in Q3
Romania’s state-owned gas producer Romgaz generated lei 209.2mn ($48.4mn) in net profit in the third quarter, down 2.1% from a year earlier, it reported on November 14.
The company’s Ebitda rose 17.5% to lei 467.5mn, while turnover dipped 5.6% to lei 916.1mn. Gas production in the first nine months of the year was up 0.7% at 3.95bn m3.
Romgaz said its performance was affected by a 2% turnover tax and other levies. The government imposed this tax on gas producers last year, while also putting in place caps on domestic gas prices. It is now looking to repeal this legislation following a strong backlash from the gas industry.