Analysts forecasting Petrom Q1 profit to reach €270 mln

The rise forecast by analysts can be attributed mainly to Petrom taking advantage of increasing oil prices, due to its strong presence in the upstream sector.

“High oil prices and the weak leu to the US dollar have led to a substantial rise in Petrom’s profit in the first quarter, compensating for the traditional weak results in the refining sector,” said Lajos Meszaros, analyst of KBC Hungary investment service provider.