Romanian oil and gas producer OMV Petrom reported broadly stable hydrocarbon output in the second quarter of 2026. The company said stronger crude-oil prices improved the market environment for its upstream operations while production remained stable.
Quarterly production volumes
Average production reached 102,300 barrels of oil equivalent per day, compared with 102,200 boe/d in the same quarter of 2025. Output was lower than the 104,200 boe/d reported in the first quarter of 2026, a sequential decline of approximately 1.8%. Natural gas remained the largest production component at 56,800 boe/d. Oil and natural-gas liquids contributed 45,500 boe/d, down from 48,400 boe/d a year earlier and slightly below 45,800 boe/d in the preceding quarter.
The production mix showed gas providing stability while the liquids portfolio continued a gradual decline. This raised the importance of future developments and reservoir investment to offset depletion across mature Romanian fields.
Brent prices and upstream conditions
Brent crude averaged $103.85 per barrel during the quarter. That compared with $67.88 per barrel in the second quarter of 2025 and $81.13 per barrel during the first three months of 2026. Higher prices were expected to support upstream cash generation despite weaker liquids volumes.
Gas sales and electricity generation
Third-party natural-gas sales increased to 8.89 TWh, from 8.07 TWh a year earlier. Sales stayed below the 12.44 TWh recorded in the first quarter, reflecting a normal seasonal reduction in gas demand after winter.
Electricity production weakened substantially in the quarter. Net generation amounted to 0.47 TWh, down from 0.61 TWh in the corresponding quarter of 2025 and 1.63 TWh in the first quarter of 2026. The reduction meant the group’s quarterly earnings mix became more dependent on upstream hydrocarbons and gas marketing, alongside OMV Petrom’s longer-term investment in power and renewable generation.
