OMV Petrom, Romania’s largest integrated energy company, reported a net profit of RON 1.8 billion for the first six months of the year, representing a 14 percent year-on-year decline, as lower commodity prices and a challenging market environment weighed on earnings.

The company said the weaker financial performance was primarily driven by lower crude oil prices, the continued impact of regulations in the natural gas and electricity markets, and planned maintenance activities across its operations. Despite these headwinds, OMV Petrom maintained solid operational performance and continued to invest in its strategic growth projects.

During the reporting period, investments increased significantly, reaching approximately RON 1.9 billion, with a substantial share allocated to the Neptun Deep offshore natural gas project in the Black Sea, one of the largest energy developments in the European Union.

The company also reported strong operating cash flow, supported by improved working capital, while emphasizing its commitment to maintaining a disciplined investment strategy and advancing projects that strengthen Romania’s long-term energy security.

Management noted that market conditions remain volatile, but reaffirmed OMV Petrom’s focus on operational efficiency, capital discipline and the timely execution of key investment projects, particularly Neptun Deep, which is expected to play a significant role in regional gas supply in the coming years.