Third-quarter refining margin and refinery operating levels
OMV Petrom reported a sharp increase in its third-quarter indicator refining margin, with the refining benchmark reaching $41.75 per barrel. The figure compares with $14.02 a year earlier and $22.67 in the second quarter. Refinery utilisation reached 100%, while refined-product sales increased to 1.65 million tonnes.
Hydrocarbon production and sales trends
Hydrocarbon production averaged 98,800 barrels of oil equivalent per day, down approximately 5.7% from 104,800 a year earlier. Oil and natural gas liquids output declined to 44,500 barrels of oil equivalent per day, while gas production fell to 54,200. Hydrocarbon sales dropped to 93,700 barrels of oil equivalent per day, from 100,600 in the corresponding quarter of 2025.
Gas sales and power generation at Brazi plant
Third-party gas sales fell to 7.01 TWh, compared with 8.94 TWh a year earlier. Electricity generation at the Brazi gas-fired plant increased to 1.32 TWh, from 1.27 TWh, after recovering from 0.47 TWh in the second quarter.
Policy measures affecting upstream and downstream results
A temporary solidarity tax introduced in August is expected to affect both upstream and downstream results. Fuel margin caps and cautious retail pricing are also expected to weigh on marketing profitability. Stronger refining conditions provide an earnings buffer, but they do not remove pressure from declining production and regulated retail margins.
