Romania's OMV Petrom Q2 net loss attributable to shareholders of 537 mln lei

OMV Petrom SA

28/07/2023 06:32

BUCHAREST, July 28 (Reuters) - Romania's top oil and gas
firm OMV Petrom  ROSNP.BX , controlled by Austria's OMV
 OMVV.VI  
    * Says posts a second quarter net loss attributable to
shareholders of 537 million lei ($119.62 million), compared with
a profit of 2.89 billion lei in the same quarter of 2022. 
    * Says Clean CCS Operating Result at 1.6 billion lei, down
56% on
the year, driven by "significantly lower
commodity prices and asset utilization impacted by maintenance
activities."
    * Says gas production decreased by 5.3% mainly due to a
natural
decline in main fields.
    * Says its Brazi power plant was in prolonged planned outage
with
the entire capacity in the second quarter.
    * Says capital expenditure stood at 1.43 billion lei in the
second
quarter, up 89% on the year. 
    * Says expects the average Brent oil price to be between
$75/bbl
and $80/bbl in 2023 against $101/bbl in 2022.
    * Says expects refining margins to above $10/bbl versus 2022
levels of $16.6/bbl. 
    * CAPEX seen rising to around 6 billion lei in 2023, up 70%
on the
year, mainly driven by the Neptun Deep offshore gas project and
turnaround of Petrobrazi refinery.
    * Says it paid roughly 1.5 billion lei in additional tax
representing the solidarity contribution on refined crude oil
for 2022.
    * Says total gas sales volumes are estimated to be lower
than
2022's 46 TWh, mainly on lower supply, both from equity and
third parties and lower demand.
    * Says forecasts net electrical output will be lower than
2022's
5.0 TWh, given a longer than initially planned outage
of its Brazi power plant in the first half.
Says Attractive returns to shareholders: a base dividend of RON
0.0375/share was paid starting June and a special dividend
    * Says proposed paying a special dividend of 0.0450 ler per
share,
which adds to a base dividend of 0.0375 lei per share that was
paid in June for a total dividend yield of 19.6%. 

($1 = 4.4893 lei)

 (Reporting by Luiza Ilie)
 ((luiza.ilie@thomsonreuters.com; +4021 527 0312; https://www.reuters.com/journalists/luiza-ilie))