Romania's Romgaz 2016 net profit falls on lower demand, drop in prices

Romanian natural gas producer Romgaz [BSE:SNG] said on Thursday its net profit dropped 14.2% year-on-year to 1.02 billion lei ($173 million/ 159 million euro) in  2016, seenews.com informs. The company’s performance in 2016 was mainly affected by a 17% drop in natural gas demand on the Romanian market, a fall in natural gas prices and strong competition from imported gas resulting from some unclear regulations, Romgaz said in its 2016 ...

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