OMV Petrom announced its financial results for the first quarter of 2026. The company recorded a net profit of 1 billion RON, down 4 percent in Q1, according to a company report.

Christina Verchere, CEO OMV Petrom: “In an exceptionally volatile first quarter, our assets delivered strong performance, with the refinery and power plant running at high levels. Their reliable output made a direct contribution to Romania’s security of supply and energy system stability during a turbulent period. This highlights, once again, the critical role of domestic production – both in upstream and downstream – in ensuring energy resilience.
Looking ahead, we will continue to advance our conventional energy and low and zero carbon projects, further strengthening the resilience of our asset portfolio, while creating long-term value and securing energy for today and tomorrow.”

OMV Petrom Group – Highlights Q1 2026

• Clean CCS Operating Result at 1.5 bn lei, 16% higher, on improved G&P and R&M results
• Net income decreased by 4%, to 1 bn lei
• CAPEX at 1.6 bn lei, 14% higher, mainly reflecting increased investments in low and zero carbon projects
• Contribution to the State Budget increased by 9%, to 4.1 bn lei

Exploration and Production

• Clean Operating Result at 660 mn lei vs. 827 mn lei in Q1/25, mainly reflecting lower gas prices, lower oil sales volumes and unfavorable FX effect, partly compensated by higher oil prices
• Production decreased by 3.1%, with gas production up by 1.7%, the contribution of workovers and new wells partly offsetting the natural decline
• Unit production cost at USD 18.7/boe, increased by 10%, mainly due to unfavorable FX effect as well as lower oil production volumes, partly compensated by cost optimization measures despite high inflationary pressure

Refining and Marketing

• Clean CCS Operating Result at 506 mn lei vs. 395 mn lei in Q1/25, reflecting mainly higher refining margin and sales volumes, partly offset by significantly lower marketing margins
• OMV Petrom indicator refining margin at USD 14.3/bbl, up by 74%, supported by strong middle distillate crack spreads
• Refinery utilization rate at 98%, unchanged yoy and maintained high to benefit from the strong refining margin environment
• Retail sales volumes increased by 4%

Gas and Power

• Clean Operating Result at 339 mn lei vs. (86) mn lei in Q1/25, with good contribution from both business lines
• Higher total gas sales volumes at 16.1 TWh, on larger volumes sold to wholesales and end users
• Higher Brazi power plant output increased by 32% to 1.6 TWh, accounting for 11% of Romania’s generation mix