OMV Petrom, Romania’s largest oil and gas producer, announced total hydrocarbon production in Q1/2024 reached 111,700 barrels of oil equivalent per day (boe/d), up 1.5% from Q4/2023, but down 4% from the same period of 2023.
Budapest, Hungary - 13 February 2024 - The highly anticipated 5th Budapest LNG Summit is set to convene on April 9, 2024, at the prestigious Hotel Marriott Budapest, with the participation of energy leaders from more than 25 countries, marking a pivotal moment in the discourse surrounding the future of gas in Central and Eastern Europe. The organizers are thrilled to announce a stellar lineup of speakers who will headline the event.
OMV Petrom has for 2024 earmarked a budget of around EUR300 million for acquisitions, with the funds covering both deals signed in 2023 and set to be completed this year, as well as new takeovers, stated Alina Popa, OMV Petrom CFO.
Romania's Competition Council is assessing the transaction through which OMV Petrom, the sole oil and gas producer in Romania and the largest integrated energy company in Southeast Europe, intends to acquire from RNV Infrastructure 50% of the shares of Electrocentrale Borzesti and the companies owned by it, namely Hoopeks International SRL, Green Labs Advertising SRL, Union Wind SRL, Borzeşti Wind SRL and Borzeşti Power SRL.
OMV Petrom for 2023 reported sales revenues worth RON38.8 billion, 37% lower than in 2022, on falling commodity prices and sales volumes of electricity, only partially offset by rising sales of natural gas.