OMV Petrom, Romania’s leading oil and gas company, reported a 24% year-on-year drop in net profit for the first quarter of 2025, totaling €220.9 million. The decline follows a period of elevated earnings in prior years, which were buoyed by soaring energy prices triggered by the war in Ukraine.
Despite the profit dip, the company delivered stable operational performance. Hydrocarbon production saw only a slight decline—the smallest first-quarter decrease in five years—while refinery and power plant utilization remained high. However, adjusted operating profit dropped 29% to €260 million, as OMV Petrom faced headwinds from falling oil prices, narrowing refining margins, and tighter regulations in the gas and electricity sectors. These factors contributed to a continued negative financial performance in the gas and electricity division for the second straight quarter.
Looking ahead, OMV Petrom plans to invest a record €1.6 billion in 2025, with a major portion allocated to the strategic Neptun Deep offshore gas project. Capital expenditures in Q1 alone reached €281 million, driven largely by activity related to this development.
The company’s fiscal contributions also increased, rising 18% to €763 million in the first quarter. With strong financial fundamentals and vertically integrated operations, OMV Petrom is positioning itself for long-term growth, though it notes that the success of its investment plans depends heavily on a stable and competitive regulatory and tax framework.
