EnglishPetrom"s overall oil & gas production decreased in Q2 to 196,000 barrels of oil equivalent (BOE) / day from 202,000 BOE / day in the corresponding period of 2006, according to an announcement by the majority shareholder, OMV, who reported a Q2 oil and gas production of 322,000 BOE, the same as in Q2:2006.
In Romania, production decreased because the excessive heat caused pressure problems in gas pipes and because of a number of technical reasons. Nonetheless, the decline was offset by higher output in New Zealand and Yemen.
The regulated price of gas in Romania averaged 187.07 USD / 1000 cubic meters in Q2, up by 21.43% compared to Q1. The RON"s appreciation on the EUR and USD, as well as the USD depreciation against the EUR continued, having a negative impact on the business.
The demand for transportation services remained strong in Q2:2007, whereas sales embarked on the expected seasonal slide, but still remained higher than in the year-ago period. Petrom"s sales increased compared to Q2:2006, but decreased compared to Q1:2007.
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