Romania’s largest energy provider, OMV Petrom, has announced a net profit of approximately €190 million for the first quarter of 2026, reflecting a 4% decrease from the same timeframe last year. This decline occurs within a challenging market landscape but is accompanied by noteworthy operational achievements across its primary assets.
CEO Christina Verchere highlighted that both the refining and power generation sectors operated at elevated utilization rates, which played a crucial role in maintaining the stability of Romania’s energy supply during uncertain market conditions. The emphasis on strong domestic production underscores its importance in enhancing the resilience of the energy system.
Despite the dip in net earnings, OMV Petrom’s operational metrics showed improvement in various segments. The Clean CCS operating profit surged by 16% to €285 million, driven by robust performance in refining, marketing, and both gas and electricity sectors. Concurrently, capital expenditures climbed by 14% to €305 million, largely fueled by investments directed toward low- and zero-carbon initiatives.
The exploration and production segment experienced mixed results due to declining gas prices, lower oil sales volumes, and adverse currency impacts. Nonetheless, higher oil prices offered some support as overall output fell slightly by just over 3%. Notably, gas production saw an uptick thanks to new well developments and ongoing maintenance efforts.
Conversely, the refining and marketing divisions reported stronger outcomes, benefitting from enhanced margins and increased sales volumes. Refinery utilization remained impressively high at 98%, with retail fuel sales rising by 4% year-on-year.
The gas and electricity division marked a significant recovery with an operating profit of €64.5 million, contrasting starkly with losses recorded during the same period last year. Gas sales reached 16.1 TWh, while electricity generation at the Brazi Power Plant surged by 32% to 1.6 TWh, representing about 11% of Romania’s total electricity output.
The company affirmed its commitment to balancing traditional oil and gas operations with strategic investments in cleaner technologies, aiming to fortify its portfolio while contributing to long-term energy security.
