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.
