Oil and gas company OMV Petrom and natural gas producer Romgaz were among the three most valuable local companies listed on the Bucharest Stock Exchange (BSE) at the end of March.
OMV Petrom recorded a net profit in the amount of some 530 million euros in 2017, more than double than it had recorded in 2016. The company’s operating profit rose to 702.5 million euros last year from 317 million euros in 2016, driven mainly by higher sales and cost optimization. In the upstream segment, OMV Petrom’s operating result rose to 356 million euros from 86 million euros in 2016, impacted mainly by the reassessment of provisions.
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Tags: BSE, Bucharest Stock Exchange, financial, gas, oil, OMV Petrom, Romania, Romgaz, stock exchange