Petrom Sees RON404M Hedging Loss In 2011

02.22.2012 By Andrei-Gabriel Circhelan

Romanian oil and gas group OMV Petrom (SNP.RO) on Wednesday said it recorded a loss of 404 million lei (EUR95.3 million) from hedging in 2011, compared to just RON6 million in the previous year, but the higher oil prices and lower production costs helped the company post record profits for last year

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