Petrom makes one year's profit in three months
Petrom posted an 807 million-RON (196.3 million-euro) net profit
in the first quarter of the year, nearly 2.5 times higher than in
the similar period of last year, while sales of the petroleum and
gas producer went up by a mere 2%, to 3.93 billion RON (957 million
euros).
The company reports results according to international accounting
standards as of this year, with Petrom's net profit in the first
three months of 2010 being more or less equal to that recorded by
the company in the whole of 2009.
Despite an unfavourable market progression, the rise in the price
of fuels, - by 28% for petrol, and by 24% for diesel oil, the rise
in the price of petroleum - by 72%, as well as cost cutting
measures saw the company perform much better in the first three
months of the year against the similar period of last year.
The positive results were reported even amid a 4% lower production
of hydrocarbons and amid 22% lower sales of petroleum products,
especially because of lower commercial sales.