Romania's OMV Petrom swings to profit in 2016, to invest more in 2017

Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Thursday it posted a 1.038 billion lei ($241 million/228 million euro) net profit in 2016, recovering from a 690 million lei loss in the previous year, seenews.com reports. The group's consolidated sales for 2016 decreased by 10% to 16.24 billion lei, largely due to lower petroleum products sales, following a further decline in oil prices and slightly lower quantities sold, as well as ...

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