The Austrian oil and gas producer OMV recorded a 20 per cent drop in third-quarter profit, as production interruptions at its Libyan assets continue to weigh on its bottom line.
Net income excluding costs of revaluing inventories declined to €233 million (Dh1.16 billion) from €290m in the third quarter of last year, the company said in its quarterly report yesterday.
"The first nine months of this year have been dominated by the consequences of the political turmoil in North Africa and the Middle East, which have led to major production shortages from Libya and Yemen," said OMV's chief executive officer, Gerhard Roiss.
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