June 16, 2024
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HomeSEE Energy NewsRomania, OMV Petrom’s hydrocarbon output dropped in Q2 2022

Romania, OMV Petrom’s hydrocarbon output dropped in Q2 2022

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The hydrocarbon output of Romania’s largest oil and gas company OMV Petrom dropped to 121,100 barrels of oil equivalent per day in the second quarter of 2022, from 133,700 barrels of oil equivalent per day in the same period in 2021.

The statement from the company said that in the context of an extraordinarily high Urals-Brent differential, triggered by the geopolitical context, starting the second quarter of 2022, the transfer price between Exploration & Production and Refining & Marketing is now based on Brent instead of Urals, as Urals is no longer a relevant reference. The transfer price is at arm’s length and takes into consideration the quality difference between Brent and the currently produced crude mix. Sensitivities to changes of Brent crude price and the indicator refining margin remain unchanged.

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