OMV reports drop in Q2 earnings as oil, gas prices fall

BERLIN :OMV on Friday posted lower-than-expected core earnings in the second quarter of 2023 due to lower contributions from all business sections as it forecast lower prices for oil and gas.

The Austrian company reported a clean current cost of supplies operating result of 1.18 billion euros for the April-to-June period, down 60 per cent on the same period a year prior. Analysts had forecast a second-quarter clean CCS operating result of 1.27 billion euros, according to a company-provided consensus.OMV and the Abu Dhabi National Oil Co are exploring the possibility of merging two entities owned by the companies to create a chemicals giant with combined annual sales of more than $20 billion.

The company lowered its forecast for the average Brent crude oil price this year to $75-80 per barrel, from a previous forecast for above $80 per barrel. OMV, which is in talks with the state-owned Abu Dhabi National Oil Company for a possible merger of their petrochemical divisions, confirmed its group outlook for organic capital expenditure of around 3.8 billion euros in 2023.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Singapore Business Review (July - September 2023)Millennials, particularly from the Asia-Pacific region, are emerging as a transformative force in the art market, with data revealing their growing significance as buyers at renowned auction houses like Christie’s, Sotheby’s, and Phillips. Learn more about the evolving tastes and economic power of a new generation on page 26.
مصدر: SBRMagazine - 🏆 13. / 51 اقرأ أكثر »