OMV Petrom - Trading Update Q3 2023

OMV Petrom S.A.

09 October 2023

 

OMV Petrom Q3/23 Trading Update

October 9, 2023

This trading update provides basic provisional information on the economic environment as well as OMV Petrom Group's key performance indicators for the quarter ended September 30, 2023. The OMV Petrom Group's results for Q3/23 will be published on October 31, 2023. The information contained in this trading update may be subject to change and may differ from the final numbers of the quarterly report.

Economic environment	Q3/22	Q4/22	Q1/23	Q2/23	Q3/23
Average Brent price (USD/bbl)	100.84	88.87	81.17	78.05	86.75
Average USD/RON FX-rate	4.880	4.832	4.585	4.545	4.548
Average EUR/RON FX-rate	4.914	4.921	4.919	4.948	4.949

Source: Reuters/Platts, NBR

Exploration and Production	Q3/22	Q4/22	Q1/23	Q2/23	Q3/23
Total hydrocarbon production (kboe/d)	117.2	118.0	116.3	113.7	113.5
thereof crude oil and NGL production (kboe/d)	56.3	57.0	56.0	55.0	54.0
thereof natural gas production (kboe/d)	60.9	61.1	60.3	58.7	59.5
Total hydrocarbon sales volume (kboe/d)	112.0	113.2	111.4	108.7	107.9
thereof crude oil and NGL sales volume (kboe/d)1	58.5	60.0	59.1	57.5	55.7
thereof natural gas sales volume (kboe/d)	53.5	53.2	52.3	51.2	52.2
Average realized crude price (USD/bbl)	89.14	77.84	70.32	67.62	75.88

¹ Includes sales of liquids obtained from separation and processing of rich natural gas; rich natural gas production is included under natural gas production above.

Refining and Marketing	Q3/22	Q4/22	Q1/23	Q2/23	Q3/23
Indicator refining margin (USD/bbl)2	17.10	18.79	16.61	11.17	16.81
Refinery utilization rate (%)	99	99	98	31	95
Total refined product sales (mn t)	1.51	1.49	1.24	1.19	1.51

² The actual refining margins realized by OMV Petrom may vary from the indicator refining margin due to different crude slate, product yield and operating conditions.

Gas and Power	Q3/22	Q4/22	Q1/23	Q2/23	Q3/23
Gas sales volumes to third parties (TWh)	6.92	9.56	11.06	9.35	8.60
Brazi net electrical output (TWh)	1.42	1.48	0.97	0.00	1.48

In Q3/23, both retail and commercial margins were lower qoq, while retail margins were lower also yoy.

Consensus

The collection of the analysts' quarterly result estimates will take place between October 9, 2023 and October 15, 2023. The consensus will be made public on the company's website on October 24, 2023.

Contact details:

OMV Petrom S.A. Investor Relations

Tel: [phone]; Fax: [phone]
E-mail: [e-mail]

Disclaimer regarding forward-looking statements

This report may contain forward-looking statements. These statements reflect the Company's current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as "anticipate," "believe", "estimate", "expect", "intend", "plan", "project", "target", "may", "will", "would", "could" or "should" or similar terminology. By their nature, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control that could cause the Company's actual results and performance to differ materially from any expected future results or performance expressed or implied by any forward-looking statements.

None of the future projections, expectations, estimates or prospects in this report should in particular be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared or the information and statements contained herein are accurate or complete.

As a result of these risks, uncertainties and assumptions, you should in particular not place reliance on these forward-looking statements as a prediction of actual results or otherwise. This report does not purport to contain all information that may be necessary in respect of the Company or its shares and, in any event, each person receiving this report needs to make an independent assessment. The Company undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this report that may occur due to any change in its expectations or to reflect events or circumstances after the date of this report.

 

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