October 10, 2018 / 7:05 AM / 8 days ago

UPDATE 1-Maintenance work reduces OMV's third-quarter output

* Q3 production fell to 406,000 boe/d

* Q3 refining margin at $5.69 per barrel

* Q3 refinery utilization rate at 98 pct (Adds refining data, third-quarter forecast, quote)

VIENNA, Oct 10 (Reuters) - Austrian energy group OMV on Wednesday reported a quarter-on-quarter fall in third-quarter oil and gas production, largely due to maintenance work in Russia and Austria and the sale of its Pakistan exploration business.

Output fell to 406,000 barrels of oil equivalent per day (boe/d) from 419,000 boe/d in the second quarter, it said.

The refining margin - the company’s earnings from turning the crude oil into fuel and diesel - increased to $5.69 per barrel from $5.23 in the second quarter. The utilization rate of its refineries was at 98 percent after 77 percent in the previous period.

The sale of its Samsun plant in Turkey will lower third-quarter net income by 160 million euros ($184.02 million), Austria’s largest energy group said.

“This stems from the negative development of the Turkish lira against the euro since the investment in the power plant,” the group said in a statement.

OMV pulled out of electricity generation in Turkey in May in line with its strategy to reduce the exposure of non-integrated power business.

OMV is due to report third-quarter results on Oct. 31. Analysts expect net income of 504 million euros on sales of 7 billion euros, according to Refinitiv Eikon data.

$1 = 0.8695 euros Reporting by Kirsti Knolle; editing by Jason Neely by Louise Heavens

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