Copyright thediplomat
OMV Petrom announced its financial results for the first three quarters of 2025. The company recorded a net profit of 3.4 billion RON, down 13 percent in the first 9 months. Christina Verchere, CEO OMV Petrom: “In a lower crude price environment, our nine-months results reflect the benefits of our business integration, with positive impact from increased refining margin. The integration value was especially evident in the third quarter, with improved performance in R&M, in addition to G&P returning to positive result. However, signs of economic slowdown began to affect the demand for fuels and natural gas. While our Clean CCS result for 9 months decreased by 20%, to 3.8 bn lei, our organic investments over the same period increased by 28% to around RON 5 billion, reflecting Strategy 2030 implementation. We marked significant progress on both the Neptun Deep development and the Han-Asparuh exploration activities in Bulgaria, as well as on further developing our renewable power portfolio and sustainable products. Financial discipline remains in focus, with efficiency programs in place aiming to address market challenges and maintain competitiveness. Assuming a predictable and competitive fiscal and regulatory framework, we continue investments targeting a record figure of up to RON 8.2 billion for 2025.” OMV Petrom Group Clean CCS Operating Result was RON 3.8 billion, 20% lower yoy, mainly impacted by lower oil prices partially offset by stronger refining margins Net income decreased by 13% to RON 3.4 billion Organic CAPEX increased by 28% to RON 5.1 billion, mainly due to higher investments for Neptun Deep project. Total CAPEX increased to RON 5.2 billion, 9% up yoy Contribution to the state budget was RON ~12 billion at a similar level with the contribution in 9m/24 Fourth consecutive special dividend was approved: RON 0.0200/share; total dividends of RON 4 billion in 2025, including base dividend paid in June Exploration and Production Clean Operating Result at RON 1.9 billion vs. RON 2.4 billion in 1-9/24, mainly driven by a 14% drop in crude prices Production in line with expectations, 4% lower, mainly due to natural decline in main fields, partly offset by the contribution of workovers and new wells Production cost increased by 11% to 17.9 USD /boe, due to negative FX effects as well as higher duties and taxes (including construction tax) and lower production available for sale Refining and Marketing Clean CCS Operating Result was RON 1.8 billion vs. RON 2.0 billion in 1-9/24, mainly due to lower refinery utilization in the context of the planned shutdown in May 2025 and crude supply challenges in Q3/25 OMV Petrom indicator refining margin was USD 10.9/bbl, up 12% supported by favourable developments in diesel and gasoline quotations relative to crude oil prices Refinery utilization rate stood at 90%, below the level recorded in the similar period of 2024, mainly due to a 20-day planned shutdown in Q2. Despite this, performance rebounded in Q3, reaching 96% utilization rate, well above the European average, as the company swiftly addressed crude supply challenges by securing alternative sources. Gas and Power Clean Operating Result was RON 13 billion in the first 9 months, turning positive in Q3, following de-regulation of the power market. It is still significantly below the 2024 level, mainly due to legislative provisions that impacted the power segment result in the first half of 2025 Total gas sales increased to 34.3 TW, 12% higher Brazi power plant output was 3.1 TWh, accounting for 9% of Romania’s generation mix, in the context of a 90% power plant availability
