Romanian oil and gas giant OMV Petrom sees net profit increase 18% in first nine months 2026

The net profit of OMV Petrom (BVB: SNP), Romania's largest energy producer, increased by 18% to RON 4.1 billion in the first nine months of the year, according to the financial results published by the oil and gas group on Wednesday, October 28.

At the same time, investments totaled approximately RON 6.6 billion, directed toward key energy projects such as Neptun Deep, SAF/HVO, and renewable electricity.

Taxes and dividends amounted to more than RON 16 billion, up 38% compared with the first nine months of 2025.

Christina Verchere, CEO of OMV Petrom, explained that the recent period was marked by a “volatile market environment” and pressure on energy markets.

“Petrobrazi refinery operated at over 98% capacity in 1-9/26, reaching 100% in the third quarter; the Brazi power plant supplied 9% of the electricity produced in Romania in 1-9/2026, and we largely offset the natural decline in oil and natural gas production. At the same time, we advanced the Neptun Deep project to start natural gas production in the first half of next year and continued to develop our low-carbon energy business,” Verchere said, cited by Economedia.

The company noted that the Neptun Deep natural gas project in the Black Sea advanced toward its first gas production, estimated for the first half of 2027, with the installation of the shallow-water production platform, the completion of eight wells, and the pipeline to shore.

In the low-carbon projects segment, the regional network of electric vehicle charging points reached approximately 1,550 units.

Regarding renewables, OMV Petrom announced that it had reached a net operating capacity of 100 MW and approximately 700 MW under construction, following the start of commercial operations at three projects in Romania and the start of construction of the Gabare project in Bulgaria.

OMV Petrom also signed a contract to build a battery energy storage system for the Ișalnița solar park, adding to its first battery energy storage project at Gabare in Bulgaria.