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.
Archaeologists from the Buzău County Museum, in southern Romania, have discovered 31 human settlements on the construction site of a wind farm. The region where the settlements were discovered was chosen for a new wind farm because of its favorable meteorological conditions, and annual tests were conducted as early as 2010. Construction work began in […]
Romania has become the EU country with the highest unemployment rate among young people under 25 (26.3%), according to official Eurostat data published in December 2024 and analyzed by the Social Monitor, a project of the Friedrich Ebert Foundation Romania. Thus, Romania surpassed states such as Spain and Greece, where youth unemployment has always been […]
In its half-year report for the second half of 2024, TikTok said it blocked 33,000 spam accounts in Romania and nearly 100,000 fake accounts. It highlighted its intense activity in blocking fraudulent activity related to Romania, particularly during the electoral campaign, indirectly admitting the...
Moldovan president Maia Sandu has acknowledged that some local entrepreneurs are transferring capital to Romania due to its stability as a European Union and NATO member state. Speaking about the country's economic stagnation in 2024, when GDP grew by only 0.1%, and the technical recession in the second half of the year, Sandu highlighted concerns […]
Battery Energy Storage Systems (BESS) are set to become a central component of Romania's power system, according to Oxford-based Aurora Energy Research, whose analysts see investments in Romania's BESS totaling several gigawatts of capacity and several billion euros over the next decade. Aurora pointed to both the opportunities and the risks and uncertainties associated with […]
Romania’s insurance market grew by 11% year-on-year in 2024, reaching a total gross written premium volume of RON 23.4bn (EUR 4.7bn), according to a report published on 1 April by the Financial Supervisory Authority (ASF). General insurance accounted for 81% of total underwritings, while life insurance represented 19%. The total value of insurance premiums for […]
