Political unrest in North Africa took its toll on OMV AG's (OMV.VI) hydrocarbon production levels in the third quarter, the Austrian oil and gas company said Friday.

Hydrocarbon production totaled 275,000 barrels of oil equivalent per day in the third quarter of 2013, down from 309,000 in the same quarter a year earlier. On top of security issues and strikes in Libya and Yemen , the company's Maari field in New Zealand experienced shut-ins due to maintenance work and the need to replace key equipment, OMV said.

Before unrest broke out in the country, production in Libya accounted for around 10% of OMV's production.

The company said that while the weakened U.S. dollar against the euro had a negative impact on its third-quarter performance, higher oil prices compensated for the negative effects.

OMV's said that its refining market margin, a benchmark indicator for global processing profits, fell significantly to $1.17, from $5.28 a year earlier and $2.48 in the previous quarter, amid weaker gasoline spreads and higher crude prices.

OMV said negotiations with major gas supply partners over pricing continue.

The company said it recorded special charges of approximately 100 million euros ($136.04 million) in the third quarter, due to write-downs of exploration and production assets in the Kurdistan region of Iraq and some Austrian retail assets.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα