Oil company INA recorded a net profit of 73.1 million euros in the first half of 2023. That is 65% lower compared to a profit of 211 million euros recorded in the same period last year, mainly due to a drop in hydrocarbon prices.
INA Group’s earnings before interest, taxes, depreciation and amortization (EBITDA) in the first half of 2023 amounted to 183 million euros, halved compared to the same period of 2022, which was an extraordinary year for the entire oil and gas industry. Continuation of 2023 brings stabilization of oil prices and a sharp decline in gas prices in H1 compared to the same period in 2022. The average realized hydrocarbon prices are reduced by 23%, which together with a decreasing product price environment pushed the result down.
