June 20, 2024
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HomeUncategorizedRomania: OMV Petrom to invest a record 1.6 billion euros in 2024

Romania: OMV Petrom to invest a record 1.6 billion euros in 2024

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Romanian oil and gas company OMV Petrom announces the distribution of record basic dividends of approximately 2.6 billion lei (522 million euros) for the financial year 2023. At the same time, the period with the largest investments in the history of OMV Petrom begins, with a budget of approximately 8 billion lei (1.6 billion euros) for 2024, which is 71% higher compared to 2023.

The Ordinary General Meeting of OMV Petrom Shareholders approved the Directorate’s proposal to distribute record basic dividends in the gross amount of 0.0413 lei/share for the financial year 2023, representing an annual increase of 10%. The total gross value of the dividends to be distributed amounts to approximately 2.6 billion lei, representing 64% of the net profit for the year 2023 of the OMV Petrom Group.

The dividends will be distributed to the shareholders registered on the date of registration, May 15, 2024. Approximately 1.1 billion lei will go to the Romanian shareholders, who held over 43% of the company’s shares on December 31, 2023. Of this amount, over 530 million lei will be distributed to the Romanian state, which owns, through the Ministry of Energy, 20.7% of the shares of OMV Petrom S.A.

AGOA approved an investment budget of approximately 8 billion lei which includes 6.4 billion lei planned investments and a 1.6 billion lei contingent budget to cover low and zero-carbon projects related to announced M&A transactions and various other opportunities that could be explored depending on economic developments.

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