Oil & Gas
3rd Quarter 2017
Sales in the Oil & Gas segment rose considerably year-on-year on the back of higher prices and volumes. The average price of a barrel of Brent blend crude oil in the third quarter of 2017 was $52 (prior-year quarter: $46). Gas prices on the European spot markets also rose compared with the prior-year quarter. Volumes growth was mainly driven by higher gas sales volumes. Production volumes also increased slightly.
Factors influencing sales, Oil & Gas
3rd Quarter 2017
There was a slight decline in income from operations before special items. The prior-year figure included compensation payments from contract renegotiations. Net income nevertheless grew considerably, mainly due to special income from the sale of shares in a natural gas field concession in Argentina.
|
|
3rd Quarter |
January – September |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2017 |
2016 |
Change % |
2017 |
2016 |
Change % |
||||
|
|||||||||||
Sales to third parties |
|
739 |
618 |
20 |
2,382 |
1,846 |
29 |
||||
Income from operations before depreciation and amortization (EBITDA) |
|
473 |
437 |
8 |
1,427 |
1,101 |
30 |
||||
Amortization and depreciation1 |
|
218 |
259 |
(16) |
820 |
764 |
7 |
||||
Income from operations (EBIT) |
|
255 |
178 |
43 |
607 |
337 |
80 |
||||
Special items |
|
75 |
(16) |
. |
74 |
(17) |
. |
||||
EBIT before special items |
|
180 |
194 |
(7) |
533 |
354 |
51 |
||||
Assets (September 30) |
|
11,870 |
12,447 |
(5) |
11,870 |
12,447 |
(5) |
||||
Investments including acquisitions2 |
|
225 |
270 |
(17) |
648 |
820 |
(21) |
||||
Research and development expenses |
|
6 |
9 |
(33) |
24 |
28 |
(14) |
||||
Exploration expenses |
|
22 |
18 |
22 |
46 |
78 |
(41) |
||||
Net income |
|
139 |
33 |
321 |
401 |
180 |
123 |
||||