OMV Petrom 2025 Financial Results and Investments
- Investments reached 7.8 bn lei, with a focus on Neptun Deep and regional gas growth.
- Production decreased 4% to 104.5 kboe/day, with oil and condensate declining.
- Refinery utilization dropped to 93% due to planned shutdowns and supply challenges.
- 900 MW renewable power capacity under construction, including 4 PV parks with CE Oltenia.
Financial Performance
OMV Petrom reported a 27% decrease in net income to 3.1 billion lei, primarily due to net impairments of 2.2 billion lei related to abandonment obligations and tangible assets in Exploration and Production (E&P). The Clean CCS Operating Result fell by 10% year-on-year to 5.2 billion lei, impacted by lower crude prices and volumes.
Investments and Production
Organic CAPEX reached a record 7.7 billion lei, driven by higher investments in the Neptun Deep project. Total CAPEX increased by 9% year-on-year to 7.8 billion lei. Production decreased by 4% to 104.5 kboe/day, with a notable decline in oil and condensate, while gas production remained stable.
Refining and Marketing
The Clean CCS Operating Result in Refining and Marketing remained stable at 2,453 million lei. The refining margin increased by 35% to USD 12.4/bbl, despite a decrease in refinery utilization to 93% due to planned shutdowns and crude supply challenges. Total refined product sales dropped by 5% to 5.5 million tonnes.
Gas and Power
Total gas sales rose by 12% to 48.3 TWh, marking the highest annual level since 2021. The Brazi power plant output was 4.7 TWh, covering 9% of Romania’s generation mix.
Strategic Developments
OMV Petrom adjusted its Strategy 2030 targets to reflect the energy transition pace, maintaining a total investment budget of ~EUR 11 billion for 2022-2030. The company is focusing on regional gas growth, with ongoing developments in the Neptun Deep project and exploration activities in Bulgaria's Han-Asparuh block.
Source: OMV Petrom