In the first quarter of 2026, OMV Petrom, Romania’s leading energy firm, reported a net profit of approximately €190 million, reflecting a 4% decrease compared to the same period in 2025. This decline occurred in a challenging market environment but was accompanied by notable operational achievements across the company’s key assets. CEO Christina Verchere emphasized the importance of robust domestic production in maintaining energy system resilience during these uncertain times.
Despite the slight drop in net earnings, operational metrics showed improvement in various segments. The clean CCS operating profit surged by 16% to reach €285 million, buoyed by enhanced performance in refining, marketing, and the gas and electricity sectors. Concurrently, capital expenditures rose by 14% to €305 million, largely driven by investments in low- and zero-carbon initiatives.
The performance across different business segments exhibited variability. The exploration and production sector faced challenges with profitability due to declining gas prices, reduced oil sales volumes, and adverse currency effects. Nevertheless, higher oil prices provided some support, although overall output fell by just over 3%. This decline was offset somewhat by increased gas production from new wells and ongoing maintenance efforts.
Conversely, the refining and marketing divisions reported stronger outcomes, benefiting from improved margins and elevated sales volumes. Refinery utilization remained impressively high at 98%, while retail fuel sales experienced a year-on-year increase of 4%. This positive trend underscores the resilience of these segments amid fluctuating market conditions.
<pThe gas and electricity division demonstrated a significant turnaround, achieving an operating profit of €64.5 million compared to a loss during the same quarter last year. Gas sales reached 16.1 TWh, while electricity generation at the Brazi Power Plant surged by 32% to 1.6 TWh, contributing approximately 11% to Romania's total electricity output.
Looking ahead, OMV Petrom plans to continue its strategic balance between traditional oil and gas operations and investments in cleaner technologies. This approach aims to fortify its portfolio while supporting long-term energy security for Romania.
