Romanian oil company OMV Petrom sees profits drop 24% in Q1 of 2025

Oil and energy producer OMV Petrom, one of the largest companies in Romania, saw its profits drop 24% compared to the same period last year, reaching RON 1.1 billion (EUR 220.9 million).

The company benefited from the rise in energy prices after the start of the war in Ukraine, with its profits rising sharply in previous years.

For 2025, the group announced investments of RON 8 billion (EUR 1.6 billion) for the Neptun Deep exploitation project.

“We had solid operational performance in the first quarter of the year. Hydrocarbon production recorded the smallest decline for a first quarter in the past five years, and the utilization rates of our refinery and power plant were high. Our operating result excluding special items decreased by 29% compared to the first quarter of 2024, reaching RON 1.3 billion,” said Christina Verchere, CEO of OMV Petrom.

She also noted declining oil prices and refining margins, as well as regulations in the natural gas and electricity markets, which led to a negative result for the G&E segment for the second consecutive quarter.

OMV Petrom also had contributions to the state budget of RON 3.8 billion (EUR 763 million), up 18%, according to the company.

Investments amounted to RON 1.4 billion (EUR 281.2 million), 44% higher in the first quarter of 2025 compared to Q1/2024, mainly due to the Neptun Deep project.

“We will capitalize on our strong financial position and integrated business model, preparing for record investments in 2025 of RON 8 billion, an ambitious plan that requires a predictable and competitive regulatory and fiscal framework,” Verchere added.

(Photo source: OMV Petrom)