BUCHAREST Nov 7 Romania's top oil and gas company Petrom, majority-owned by Austria's OMV , posted a net profit of 870 million lei ($246.56 million) for the third quarter, below market expectations.
The average forecast in a Reuters poll was for a net profit of 957.4 million lei. Petrom recorded a profit of 1.18 billion lei in the same quarter of last year.
"In line with our strategic directions, we commenced commercial operations at Brazi power plant which starting September is supplied with domestic gas only," Chief Executive Mariana Gheorghe said in a statement.
"Moreover, we are pursuing new growth opportunities in the neighbouring Black Sea region, in joint venture with ExxonMobil."