In the fourth quarter of the year 2013, Petrom sales reached RON 6.035 billion, down 15 per cent from the last quarter of 2012, when sales reached RON 7.073 billion.
The oil company's net profit reached RON 1.158 billion, up 10 per cent over the net profit recorded in the same interval of the previous year, of RON 1.055 billion.
The company's earnings before interest and taxes stood at RON 5.958 billion in 2013, up 5 per cent over 2012, when it stood at RON 5.662 billion. In the fourth quarter of 2013, Petrom's EBIT dropped 16 percent down to RON 1.402 billion, compared with RON 1.673 billion recorded in the similar interval of 2012.
In spite of the depressed demand in the gas and power sectors, lower refining margins and electricity prices, Petrom recorded another strong financial performance due to operational excellence, strict cost control initiatives as well as favorable crude price environment. On the operating side, we successfully increased our hydrocarbon production in
exploration activities by completing the 3D seismic acquisition and prepared to resume the exploration campaign in mid-2014. Since privatization, we have secured the growth of our company and the future of the hydrocarbon production, by reinvesting approx. 85 per cent of our operating profits, to a cumulative level of
Petrom is the largest Romanian oil and gas company, operating in exploitation, production, refining and petrochemical industry, marketing, natural gas and energy.
The Romanian Government, through the
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