Romanian Fertiliser Maker Amonil Says Remains Short of Gas Supplies

Amonil said in a statement to the Bucharest Stock Exchange, BVB, it has received a notification from its natural gas supplier Interagro saying that it can no longer deliver gas. Amonil contacted state-owned gas producer Romgaz as alternative supplier, but the latter replied the available gas quantities were already booked.

Amonil has called its Board of Directors to analyse the situation and decide on its next move.

“We view the news as negative as the lack of gas makes it impossible to continue production,” Raiffeisen Capital & Investment said in a note to investors.

Amonil’s stock, listed on the BVB, last traded down 2.78% at 0.0175 lei ($0.006/0.004 euro) by 1015 GMT on Thursday.

Last month Amonil said it would seek to raise its capital by 58.74 million lei from the current 111.3 million lei.

The company reported a half-year net profit of 8.6 million, down from 21.3 million lei a year earlier.

(1 euro = 4.2979 Romanian lei)