OMV Petrom announces 13% increase in investments to 3.7 bln. euro, company has crude oil for August and September

OMV Petrom Group’s CCA operating result excluding special items was 3 billion lei in the first half of the year, up 21%, in a market environment with high commodity prices. The result was supported by higher contributions from the Gas and Energy (G&E) and Refining and Marketing (R&M) divisions, the company announced. At the same time, OMV Petrom officials say there is enough oil to ensure production in the coming months.   Thus, net profit decreased by 14%, to 1.8 billion lei, being affected by the financial result mainly reflecting lower net interest income and the solidarity tax in E&P in Q2/2026, and investments were 3.7 billion lei, 13% higher, and support the implementation of our major strategic projects of the company.   The contribution to the State Budget increased by 29%, to 10.2 billion lei.   “The first half of the year was marked by significant volatility in commodity prices, reaching record levels amid the Middle East crisis and concerns about supply disruptions. In this context, CCA operating result excluding special items amounted to 3 billion lei, while net profit decreased to 1.8 billion lei, reflecting the impact of a negative financial result and the solidarity tax. At the same time, our contribution to the state budget increased to 10 billion lei. We invested 3.7 billion lei in the first six months, both for strategic projects such as Neptun Deep, the SAF/HVO program and renewable energy projects, as well as for significant investments in our traditional exploration and production activity.Through our operations, we ensured uninterrupted energy supply to our customers, while maintaining a sustained pace of progress in our transformation process.Ensuring a reliable energy supply remains a priority in the context of the current disruptions on the market. For 2026, we plan investments of 9 billion lei to support and contribute to the growth of Romania’s energy production capacity,” says Christina Verchere, CEO, OMV Petrom.   At the same time, during the conference held on Friday, company officials stated that Petrom has the necessary quantities of crude oil secured for processing for August and, to a large extent, for September.   “Speaking of security of supply, as far as we are concerned, we have the necessary quantities of crude oil secured for processing for August and, to a large extent, for September. Our priority is to ensure that we process crude oil or use the refinery at full capacity in the coming period. We also have secured the volumes of finished products for our estimated normal demand for August and September. Regarding the legislation, we are still making assessments and trying to understand all the implications to realize what it means for us and for future supply,” said Radu Caprau, member of the Directorate responsible for the Refining and Marketing segment.   Operating result excluding special items was 1,548 million lei, up 4% year-on-year, the positive effect of higher crude oil and gas prices and higher natural gas sales volumes, largely offset by higher E&P taxation and lower crude oil sales volumes. Production was relatively stable at 103 boe/day, driven by the contribution of well workovers and new wells and the lower impact of maintenance activities, which partially offset the natural decline.   Unit production cost was 18.4 USD/boe, up 4%, mainly due to the unfavorable exchange rate effect and lower volumes available for sale.   CCA operating result excluding special items was 1,253 mn lei, 33% higher than 1-6/25, supported by higher sales volumes and higher refinery utilization, partially offset by the negative impact of the temporary regulatory intervention.   The achieved refining margin was slightly below the 2025 level reflecting the impact of the regulatory measures in Q2, despite a refining margin indicator of 18.4 USD/boe.   The refinery utilization rate was 97%, supporting product availability and security of supply.   Group retail sales volumes increased by 5%, in the context of market distortions generated by regulatory interventions.   Operating result excluding special items was 318 million lei, compared to (94) million lei in 1-6/25, with a positive contribution from the electricity activity following market deregulation, while the natural gas activity recorded solid results, supported by higher sales volumes.   Total natural gas sales volumes of 26.1 TWh, up 15% compared to 1-6/25, reflecting higher sales volumes to the wholesale market, end customers and higher consumption of the Brazi power plant.   Brazi power plant production increased to 2.1 TWh, 14% higher than in 1-6/25, representing 8% of Romania’s generation mix, despite a longer planned outage.   Regional gas development:   Romania: Neptun Deep advanced towards first gas production in 2027, with the installation of the shallow water production platform, the completion of six wells and the pipeline to shore. Bulgaria: Drilling operations in the Han Asparuh area were completed. Although no significant volumes of natural gas were identified, the wells contribute to a better understanding of the geology of the area. OMV Petrom expanded in the Black Sea by joining the Han Tervel exploration area; the transaction was completed in July 2026.   Low-carbon projects   Electro-mobility: EU-backed project to expand the electric vehicle charging network along a key road transport corridor in Central Europe completed. Biofuels: All modules for the 20 MW green hydrogen project have been delivered to Petrobrazi. The placement of part of the future production of the SAF/HVO unit has been secured. Renewables in Romania: Three wind projects of approximately 300 MW have entered the execution phase, within the partnership between OMV Petrom and Renovatio Group. OMV Petrom has also started a photovoltaic project of approximately 7 MW at the Petrobrazi refinery. The wind project at Gura Vaii (CEE Onesti), part of the ~1,000 MW portfolio of Electrocentrale Borzesti, owned by OMV Petrom (50%) and Renovatio (50%), has contracted a financing of 47 million euros for implementation. Renewables in Bulgaria: OMV Petrom has moved the Gabare solar project into the development phase and also includes the first battery energy storage project in the portfolio. (Source:https://www.energynomics.ro/)