Feb. 19--BUCHAREST -- Petrom Group ended last year on RON 4.824 billion in net profit (about 1.091 billion euros), up 22 per cent over 2012, when the net profit was worth RON 3.946 billion, according to preliminary consolidated results of the Petrom Group published on Wednesday.
In the fourth quarter of the year 2012, 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.
Clean EBIT went down by 4 per cent to RON 5.542 billion, mainly driven by unfavourable FX effects (weaker USD against RON) and higher depreciation expenses. Reported EBIT reached RON 5.529 billion, 1 per cent higher than 2012, due to lower special charges.
Group oil, gas and NGL production in 2013 totalled 66.64 million boe, similar to the 2012 level. In Romania, total oil, gas and NGL production increased to 62.5 million boe, 0.26 per cent higher compared to the previous year. Domestic crude oil production was 28.6 million bbl, stable versus 2012 as the projects and workover programs compensated the effects of natural decline. Domestic gas production reached 33.9 million boe, 1 per cent higher compared to 2012. Oil and gas production in Kazakhstan decreased by 9 per cent to 4.1 million boe, as an effect of technical constraints. Group sales volumes were similar to the 2012 level.
As of December 31, 2013, total proved oil and gas reserves in Petrom Group's portfolio amounted to 728 million boe (Romania: 707 million boe), while proved and probable oil and gas reserves amounted to 1,025 million boe (Romania: 977 million boe).
OMV, one of the largest public companies in Austria, holds 51.01 per cent of the OMV Petrom shares.
The Romanian Government, through the Ministry of Economy, holds 20.63 per cent in OMV Petrom, Fondul Proprietatea holds 18.99 per cent and other shareholders 9.35 per cent.
Petrom is the largest Romanian oil and gas company, operating in exploitation, production, refining and petrochemical industry, marketing, natural gas and energy.
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