OMV Petrom Key Performance Indicators

Average Brent price (USD/bbl) for Q4 2018 was 68.81 (+12% YoY), while average Ural price (USD/bbl) amounted to 68.33 (+12% YoY). Total hydrocarbon production and totally hydrocarbon sales volume decreased by 5% and 7%, respectively. Total refined product sales increased by 7%.

OMV Petrom has published a document stating some basic provisional information on their economic environment as well as their key performance indicators for Q4 2018, showing mixed results.

wdt_ID Economic environment Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 % change (18/17)
wdt_ID Upstream Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 % change (18/17)
wdt_ID Downstream Oil Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 % change (18/17)
wdt_ID Downstream Gas Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 % change (18/17)

According to it, the average Brent price (USD/bbl) for Q4 2018 was 68.81 which is a 12% increase, compared to last year. Average Ural price (USD/bbl) amounted to 68.33 which is also a 12% increase YoY.

When observing Upstream, total hydrocarbon production decreased by 5% and total hydrocarbon sales went down by 7%, amounting to 13.3m barrels. Furthermore, average realized crude price (USD/bbl) amounted to 59.71 which is a 13% increase YoY.

When looking at downstream oil, indicator refining margin (USD/bbl) amounted to 5.27, which is a decrease of 14% YoY.  Next, Refinery utilization rate improved by 8 p.p, reaching 99%.  Note that in Q2 2018 OMV Petrom reported a 49% refinery utilization rate, as it was impacted by the Petrobrazi refinery turnaround.  Total refined product sales amounted to 1.35m tons, which is a 7% increase YoY.

Turning our attention to Downstream Gas, gas sales volumes to third parties decreased by 12%, amounting to 9.74 TWh, while net electrical output increased by 41% amounting to 1.48 TWh.

Note that OMV Petrom will publish their preliminary 2018 annual results on 6 February 2019.  

InterCapital
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