OMV Petrom achieved a hydrocarbon production of 110,100 barrels of oil equivalent per day, in the second quarter of this year, 1.4% lower than the previous quarter, according to the data sent to the Bucharest Stock Exchange on Tuesday.Oil and condensate production was 52,600 boe/day (minus 1.7%), and natural gas production was 57,500 boe/day (minus 1%).In the second quarter of this year, the total volume of hydrocarbon sales amounted to 105,000 boe/d, being lower by 1.4%, compared to that in the first quarter of 2024. Sales of oil and condensate decreased by 2 .3%, to 54,900 boe/day, and those of natural gas decreased by 0.4%, to 50,100 boe/day.In contrast, total sales of refined products increased by 14.7%, to 1.48 million tons. Gas sales to third parties amounted to 6.53 TWh (minus 28.8%).The net production of electricity at the Brazi Power Plant totaled 0.53 TWh, down 66.9% compared to the January-March 2024 period.OMV Petrom is the largest integrated energy producer in South-Eastern Europe, with an annual group oil and gas production of approximately 41 million boe in 2023. The group has a refining capacity of 4.5 million tonnes annually and operates a highly efficient natural gas power plant of 860 MW. On the retail oil products distribution market, the Group is present in Romania and neighboring countries through approximately 780 gas stations, under two brands - OMV and Petrom.OMV Petrom is a company in which, at the end of 2023, Romanian shareholders owned over 43% of the shares (of which the Romanian state, through the Ministry of Energy, owns 20.7%, and 22.5% are owned by Romanian pension funds , to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, owns 51.2% of OMV Petrom's shares, and the remaining 5.6% is owned by other foreign investors. Of the total shares of OMV Petrom, 28.1% are freely traded on the Bucharest Stock Exchange.
The Constitutional Court of Romania (CCR) has explained that the legal obligation to publish asset and interest declarations on the website of the National Integrity Agency (ANI) violates the right to private life, according to the reasoning of a decision published on June 11. The decision was issued on May 29 and prompted protests from […]
Iulius Group announced plans to develop a third proximity retail center under the Family Market brand in Tomești commune, Iași county, with an estimated investment of EUR 28 million. Construction is scheduled to begin by the end of 2025, with completion expected in the last quarter of 2026. The new development will feature a leasable […]
The negotiations among the four main pro-Western parties in Romania, carried out in Bucharest without the presence of president Nicusor Dan for the past two days, failed to reach even limited agreement on the ruling strategy primarily on the fiscal consolidation package amid radical requests expressed by the Social Democratic Party (PSD) that indicate an […]
A coalition of eleven Romanian business associations, including Concordia, the Foreign Investors Council, Romanian Business Leaders, and various bilateral chambers of commerce, has issued a joint appeal calling on political parties to maintain the country's current tax framework and prioritise structural reform over immediate tax increases. The business groups argue that the focus should be […]
President Nicușor Dan announced Wednesday evening, June 11, that Romania's Supreme Council of National Defense (CSAT) will discuss how to tackle the rapid spread of disinformation online, emphasizing the need for swift responses to false narratives that circulate widely in just a matter of hours,
The largest film festival in the country kicks off this weekend in Cluj, while Bucharest has numerous music festivals going on.
