Energy - Oil & Gas

Petrom Posts Strong Rise in Earnings

Published: May 9, 2012; 20:02 · (Vindobona)

The Romanian subsidiary of Austrian OMV could raise its EBIT by 38% compared to the first quarter of 2011.

Petrom Posts Strong Rise in Earnings / Picture: © Vindobona.org

Today, Petrom published its first quarter results. Clean CCS EBIT increased to € 374m, which is an improvement of 38% compared to Q1/11 driven by higher oil price and stronger USD. The operating performance further supported by “strict cost management measures and sustained level of investments”, Petrom said. Capital expenditures reached € 260.9m. Total sales increased by 21% to…

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Petrom Posts Strong Rise in Earnings

The Romanian subsidiary of Austrian OMV could raise its EBIT by 38% compared to the first quarter of 2011.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.