OMV Petrom recorded five times lower profit in Q2 – Romania, 11 August 2016

Romanian subsidiary of Austrian OMV Group, OMV Petrom recorded a consolidated net profit of 26 million euros in the second quarter of 2016, which is 83 % less than in the same period last year.
Company’s consolidated revenues dropped by 20 % to 807 million euros. Operational profit decreased both in the upstream and downstream segments of the business, mostly due to lower crude oil and petroleum products prices. The company also recorded 12 million euros loss from special items, such as staff restructuring and unscheduled depreciation.

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