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OMV Petrom's earnings shrink on lower production, prices and solidarity contribution in 2023

The net profit of Romanian energy group OMV Petrom (BVB: SNP) plunged by 61% y/y to RON 4 billion (EUR 804 million) in 2023 amid a combination of lower hydrocarbon and electricity production, lower utilization rate of the refinery and lower prices on the markets for power and petroleum products.   Furthermore, the company's 2023 profit and loss statement includes the one-off element "solidarity ...

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