OMV Petrom said its third-quarter indicator refining margin increased sharply while upstream production and gas sales continued to decline. The refining indicator reached $41.75 per barrel, compared with $14.02 a year earlier and $22.67 in the second quarter. Dollar quotations were retained because they are the reported benchmark units.
Refining performance and product sales
Refinery utilisation reached 100%, with refined-product sales rising to 1.65 million tonnes. The company reported that the higher refining margin contrasted with weaker upstream and gas figures. Refining conditions were also linked to an earnings buffer in the period.
Upstream hydrocarbon output and sales
Hydrocarbon production averaged 98,800 barrels of oil equivalent per day, down about 5.7% from 104,800 a year earlier. Oil and natural gas liquids output fell to 44,500 barrels of oil equivalent per day, while gas production declined 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 deliveries and power generation at Brazi
Third-party gas sales decreased 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. It also recovered 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 were described as providing an earnings buffer, while pressure remained from declining production and regulated retail margins.
