OMV Petrom’s earnings shrink on lower production, prices and solidarity contribution in 2023
The net profit of Romanian energy group OMV Petrom (BVB: SNP) plunged by 61% y/y to RON 4 billion (EUR 804 million) in 2023 amid a combination of lower hydrocarbon and electricity production, lower utilization rate of the refinery and lower prices on the markets for power and petroleum products. Furthermore, the company’s 2023 profit…