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Romgaz reports increase in Q2 revenue, net profit

SNGN Romgaz SA on Aug. 14 reported a second-quarter net profit of 434.1 million Romanian lei, up from 316.8 million lei in the same period in 2018.

Revenue for the quarter came in at 1.16 billion lei, compared to 992.2 million lei a year ago.

The company produced 1.27 billion cubic meters of gas in the second quarter, down slightly from 1.28 billion cubic meters in the corresponding quarter in 2018.

Condensate production totaled 4,321 tonnes, rising from 1,850 tonnes a year ago.

Romgaz delivered 0.8 GWh of electricity during the quarter, down from 178.9 GWh in the same quarter in 2018.

As of Aug. 13, US$1 was equivalent to 4.22 Romanian lei.