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Austria's OMV has earned to 7.5 times more than a year ago in the first quarter



Austrian oil and gas group OMV in the first quarter of 2017 increased net profit compared with the year-ago result of 7.49 times. According to the report, the company profit attributable to shareholders in January March amounted to 712 million euros.



18.May.17 1:36 PM
By Christina Orlina
Photo Toinnov.com

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Austria's OMV has earned to 7.5 times more than a year ago in the first quarter
During the same period, 2016, the Corporation earned a net less than 100 million euros.
Revenue of the Austrian concern during the reporting period has increased by 38% to 5,518 billion euros. However, capital expenditure decreased by 35% to 302 million euros.

Managed the company to increase hydrocarbon production, the annual ratio from 7%.
"OMV has made a good start in 2017 with good operating and financial performance said on this occasion, the head of OMV Rainer Seele. We reached the quarterly ten-year maximum for the extraction 335 thousand barrels of oil equivalent per day and reduced production costs to less than $ 9 per barrel''.



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