OMV Petrom Boosts Profits

Written By Jason Stutman

Posted August 13, 2013

OMV Petrom Boosts Profits

Romania’s largest oil company and OMV subsidiary (OTC: OMVKY), Petrom posted second-quarter profits up 65 percent year over year. Total net income moved up to $319 million despite shrinking crude sales volumes.

This profit increase can has been attributed to stabilized production. Output in the second quarter was 184 thousand barrels of oil equivalent per day, just a 1 percent increase from a year earlier.

Petrom is currently seeking offshore resources in the Black Sea with Exxon Mobil (NYSE: XOM).

Knowledge is Power

When it comes to the market, knowledge is your most important weapon. But information can be a double-edged sword if it is wielded without care. Digging deep can give you an edge, especially in complex industries such as technology. See how understanding this new technology helped Energy and Captital readers to earn some quick gains.

Angel Publishing Investor Club Discord - Chat Now

Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.