OMV Petrom recorded a hydrocarbon production of 107,500 barrels of oil equivalent (boe) per day in the first quarter of this year, 0.28% higher than in the previous quarter, but 3.76% lower than in the same period last year, according to data sent to the Bucharest Stock Exchange on Tuesday.The production of crude oil and condensate was 50,100 boe/day (down 0.8% compared to Q4 2024), and the production of natural gas was 57,400 boe/day (up 1.23%).In Q1 2025, the total hydrocarbon sales volume amounted to 102,200 boe/day, which is 0.2% higher than in the last quarter of 2024. Sales of crude oil and condensate decreased by 0.57% to 52,300 boe/day, while natural gas sales increased by 1.2% to 49,900 boe/day.However, total refined product sales decreased by 16.67% compared to Q4 2024, reaching 1.2 million tonnes. Gas sales to third parties amounted to 10.26 TWh (up 4.8%).The net electricity production at the Brazi Power Plant totaled 1.23 TWh, down 8.2% compared to the October-December 2024 period."In the context of regulated natural gas and electricity markets, which mainly affect the electricity generation business, the operating result excluding special items for G&E in Q1/25 is expected to be negative," the report sent to the Bucharest Stock Exchange reads.OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual production of oil and gas at the group level of approximately 40 million boe in 2024. The group has a refining capacity of 4.5 million tonnes per year and operates a high-efficiency 860 MW natural gas power plant. In the retail petroleum products distribution market, the Group is present in Romania and neighbouring countries through approximately 780 gas stations under two brands - OMV and Petrom.At the end of 2024, Romanian shareholders held over 43% of the company's shares (of which the Romanian state, through the Ministry of Energy, held 20.7%). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, held 51.2% of OMV Petrom's shares, while the remaining 5.6% were held by other foreign investors.
The Patriarch of the Romanian Orthodox Church, Daniel, congratulated Pope Leo XIV for succeeding Pope Francis on Thursday, May 8. He expressed confidence that the new pope will continue to promote "the spirit of dialogue, peace, and cooperation between the Roman Catholic Church and the Orthodox Church." "In a world facing multiple spiritual, economic, and […]
The organizers of the Untold festival announced they will offer a RON 150 (EUR 30) voucher toward the purchase of a festival pass to anyone who votes on May 18, during the second round of the presidential elections. In an online message, Untold representatives emphasized the connection between civic participation and the future of every […]
The Open Streets program, which sees the city's major arteries close for car traffic and become pedestrian areas, returns this weekend with a program of exhibitions, concerts, and a Festival of Lights. On Saturday, May 10, at 2:00 p.m., the public is invited to the Made in Romania exhibition, which presents a selection of civilian […]
Joseph Stiglitz, the famous economist and professor at Columbia University in New York, and winner of the Nobel Prize in economy in 2001, told an audience in Cluj, Romania, that governments must stimulate exports and key sectors when facing deficits. Stiglitz was in Romania on Thursday, May 8, to receive the title of Doctor Honoris […]
The Constitutional Court unanimously validated on Friday, May 9, the results of the first round of the presidential elections. It also rejected as unfounded a request to annul the elections filed by Sebastian-Constantin Popescu, the presidential candidate of the New Romania Party, it announced. The runoff, set for May 18, will see ultranationalist leader George […]
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
