VIENNA, Austria—Austrian petroleum giant OMV AG says high oil prices helped lift profit 34 percent in the first quarter.
Central Europe's largest oil and gas company says record-high crude prices were a key factor in pushing net profit to euro446 million (US$692 million) for the three months that ended March 31. OMV says its net profit for the same period a year ago was euro332 million (US$515 million).
OMV says crude prices helped overcome a lower refining margin.
The Austrian company said in a statement Wednesday it forecasts more "robust earnings" for the rest of the year as it expands its international gas business.
OMV has been criticized for pressing forward with a euro22 billion (US$34 billion) oil deal with Iran.
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