Romgaz Mediaş, the only natural gas producer controlled by theRomanian state, posted an over 70 million-euro net profit in thefirst three months of the year, a significant rise against thesimilar period of 2010, although the company's production and salesfell.
"The main factor behind the higher profit was accounted for bythe higher gas prices on the internal market," explained LucianStancu, deputy general manager of Romgaz.
In the analysed period, the Romgaz turnover reached 1.18 billionlei (280.5 million euros), nearly 4% more than in the first quarterof 2010.
Stancu also specified the company's natural gas production inthe first quarter was 1.51 billion cubic metres, lower than the1.57 cubic metres produced in the similar period of 2010.
"Gas sales fell 9% in the first quarter of 2011 against thesimilar period of 2010," the Romgaz representative also said.
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