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.
Romania’s General Prosecutor’s Office announced the reclassification of the charges brought against former presidential candidate Călin Georgescu from instigator to accomplice in the “commission of actions against the constitutional order.” The statement published Monday, August 4, by the General Prosecutor’s Office does not name Georgescu directly, but refers both to the case in which the […]
Roughly 130,000 cartridges prepared for delivery were destroyed after a fire broke out at a warehouse part of the Cugir Mechanical Plant, in central Romania, on Saturday, August 2. No victims were reported, and an investigation is currently ongoing. The fire started around 2 AM, initially over an area of 300 square meters, which later […]
Uber and Bolt, the two alternative transportation platforms that dominate the Romanian market, have together registered over 100,000 affiliated drivers by the end of May 2025, according to official data from the Romanian Road Authority (ARR) reported at the request of Ziarul Financiar. The drivers who...
Romania’s president Nicuşor Dan signed 96 decrees approving the retirement of magistrates on August 1, with most leaving the judiciary immediately and the remainder scheduled to retire on September 1, Cursdeguvernare.ro reported. Among those stepping down is Corina Corbu, President of the High Court of Cassation and Justice (ICCJ). The wave of retirements...
The number of new cars registered in Romania dropped by 16.4% y/y to 80,718 in January-July despite a 25.3% y/y rise to 16,362 units in July, according to data published by the Romanian Car Manufacturing Association ACAROM. The lack of state grants for new car purchase, promised by the Ministry of Environment for December, certainly contributed […]
Raiffeisen Bank has cut its projection for Romania’s economic growth in 2025 to 0.7%, citing the impact of a challenging global trading environment and slowing international demand, the Austrian lender said in its semi-annual report. The bank now expects Romania’s gross domestic product (GDP) to grow by 1.3% in 2026,
