A slump in crude oil prices pushed OMV Petrom SA into a third-quarter loss and risks damaging the largest Romanian oil company’s entire production for this year.
The loss amounted to 43 million lei ($10 million), compared with a profit of 1.02 billion lei in the same quarter of last year, the company said in a statement on its website Thursday. The nine-month net income fell 59 percent to 999 million lei from 2.4 billion lei a year earlier, it said.
“In the first nine months of 2015, the group’s financial performance was severely affected by the approximate 50 percent drop in oil prices,”’ Chief Executive Officer Mariana Gheorghe said in the statement.
