FRANKFURT, (Reuters) – Austria’s oil and gas company OMV said it had a better first quarter revenue than expected, citing increased market prices. However, the group suffered a loss due to impairments relating to Nord Stream 2 which was canceled.

OMV stated that its consolidated sales increased 146% to 15,83 billion euros ($16.66billion) thanks to booming markets, but its net financial loss widened at 1.04 billion euros because of the write-down on a Nord Stream 2 loan.

($1 = 0.9500 euros)