OMV Petrom reported a net profit of 680 million euros for the first three quarters of 2025, marking a 13 percent decrease compared to the same period last year. Despite lower crude oil prices and signs of weakening demand for fuels and natural gas, the company maintained solid performance supported by stronger refining margins and continued progress on key investment projects.
The company’s Clean CCS operating result reached 760 million euros, down 20 percent year-on-year, mainly due to weaker oil prices, partly offset by favorable refining margin developments. OMV Petrom highlighted that its integrated business model continued to show resilience, particularly in the third quarter when refining and marketing operations performed strongly and the gas and electricity segment returned to profitability following market deregulation.
Investments reached record levels during the reporting period, with organic capital expenditure rising by 28 percent to more than one billion euros, primarily driven by the Neptun Deep offshore gas project. Total investments increased by 9 percent to 1.04 billion euros. The company reaffirmed its commitment to its 2030 Strategy, which focuses on expanding renewable energy capacity, advancing the Khan-Asparuh exploration project in Bulgaria, and developing sustainable fuels and energy products.
OMV Petrom contributed around 2.4 billion euros to the state budget, similar to the previous year, and approved its fourth consecutive special dividend of 0.004 euros per share, bringing total dividend payments for 2025 to approximately 800 million euros, including the base dividend distributed in June.
In the Exploration and Production segment, the clean operating result dropped to 380 million euros from 480 million a year earlier, largely due to a 14 percent decline in crude prices. Production fell by 4 percent as natural declines in mature fields were only partly offset by new wells and maintenance activities. Production costs increased by 11 percent to 17.9 dollars per barrel of oil equivalent, reflecting foreign exchange impacts, higher taxes, and reduced production volumes.
The Refining and Marketing division posted a clean CCS operating result of 360 million euros, compared to 400 million in 2024. The decline was primarily linked to a planned refinery shutdown in May and supply challenges in the third quarter. Nevertheless, the refining margin rose by 12 percent to 10.9 dollars per barrel, supported by strong diesel and gasoline spreads. Refinery utilization averaged 90 percent during the period, temporarily reduced by maintenance, but recovered to 96 percent in the third quarter — exceeding the European average after securing alternative crude supplies.
The Gas and Electricity division returned to profitability in the third quarter, recording a clean operating result of 260 million euros for the nine-month period. Although still below 2024 levels due to earlier legislative constraints, deregulation of the electricity market improved earnings. Total gas sales rose by 12 percent to 34.3 TWh, while the Brazi power plant generated 3.1 TWh of electricity, accounting for about 9 percent of Romania’s total output, with a 90 percent plant availability rate.
Looking ahead, OMV Petrom plans to continue focusing on efficiency improvements and maintaining strict financial discipline to navigate ongoing market volatility. The company expects total investments to reach up to 1.64 billion euros in 2025, contingent upon a stable and predictable fiscal and regulatory environment that supports long-term growth and competitiveness.
