Christina Verchere, CEO OMV Petrom: “In the first quarter of the year, we delivered strong operational performance. Hydrocarbon production saw its lowest first quarter decline in five years, and the utilization rates of our refinery and power plant were high.
Our Clean CCS Operating Result decreased by 29% compared to the first quarter of 2024 to RON 1.3 billion. This was obtained in the context of decreasing crude price and refining margins, and of the regulations on the gas and power market. The latter led to a negative result of the G&P segment for the second consecutive quarter.
OMV Petrom continues to be a strategic partner for the Romanian economy, through contributions to the state budget of RON 3.8 billion, up 18%. Investments were at RON 1.4 billion, up 44% year on year in Q1/25, mainly driven by the Neptun Deep project.
These investments have supported the progress of our Strategy 2030, through which we are developing a balanced energy mix of oil, gas and renewable power, contributing to the country’s energy security.
Looking ahead, we will capitalize on our strong financial position and integrated business model, as we gear up for a record-high investment year in 2025 – an ambitious plan of 8 billion lei, that requires a predictable and competitive regulatory and fiscal framework.” according to the company.
Key events
- Start of development drilling for the Neptun Deep project, while also advancing the fabrication of equipment and construction of the natural gas metering station. Gas marketing activities continued
- Closing of farm-in transaction with NewMed for Han-Asparuh, thus progressing towards start drilling in 2025
- OMV Petrom started the construction of the largest sustainable aviation fuel (SAF) and renewable diesel (HVO) production unit in South East Europe at Petrobrazi refinery
- Signed the EPCC contracts for 4 photovoltaic parks to be developed in partnership with CE Oltenia
- First Sustainability Statement issued according to CSRD as part of 2024 Annual report
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