Romania's Romgaz gauges net profit of EUR 175m over this year

The company gauges revenues of 3.928 billion lei and total spendings of 3.169 billion lei which would lead to gross profit of almost 759 million lei.

Exploitation spendings reach 3.093 billion lei of which 92 million lei will be sent to the Social Gas Fund. Total financial spendings stand at 129.8 million lei of which spendings with interests represent 1.5 million lei. Dividends for national companies are 322.04 million lei.

The company will pay employees dividends worth 15.4 million lei. Investment spendings would reach 1 billion lei.

So far, Romgaz paid 16.8 million lei to the Social Gas Fund. The rest of the money will be paid by the end of the year, company representative said.

The country's biggest petroleum company, Petrom and Romgaz inked protocol with the government which regulates their participation to the Social Gas Fund for 2008. Petrom will contribute with 80 million lei.

The Social Gas Fund was set to help low-income people to pay gas bills.

Romgaz is Romania’s largest natural gas supplier as it holds a 41.2 percent share in the country’s gas supplying market. Last year, the company produced some 5,000 million cubic meters of methane gas.

Source: NewsIn