OMV Petrom, Romania’s largest energy company, reported a net profit of around €190 million in the first quarter of 2026, marking a modest 4% decline compared to the same period last year in Romania.
The result came despite a volatile market environment, with the company highlighting solid operational performance across key assets. CEO Christina Verchere noted that both the refinery and power plant maintained high utilization levels, helping stabilize the country’s energy supply during a period of uncertainty. She emphasized that strong domestic production continues to play a central role in ensuring energy system resilience.
While net earnings declined slightly, operational performance improved in several areas. Clean CCS operating profit rose by 16% to €285 million, supported by stronger results in refining, marketing, and gas and electricity segments. At the same time, capital expenditure increased by 14% to €305 million, driven mainly by investments in low- and zero-carbon projects.
Performance across segments was mixed. In exploration and production, profitability weakened due to lower gas prices, reduced oil sales volumes, and currency effects, although higher oil prices provided partial support. Overall output declined by just over 3%, despite higher gas production supported by new wells and maintenance activities.
In contrast, refining and marketing delivered stronger results, benefiting from improved margins and higher sales volumes. Refinery utilization remained at a high 98%, while retail fuel sales increased by 4% year-on-year.
The gas and electricity division recorded a strong turnaround, posting an operating profit of €64.5 million, compared to a loss in the same period last year. Gas sales reached 16.1 TWh, while electricity generation at the Brazi Power Plant increased by 32% to 1.6 TWh, accounting for around 11% of Romania’s total electricity output.
The company stated that it will continue balancing traditional oil and gas operations with investments in cleaner technologies, aiming to strengthen its portfolio and support long-term energy security.
