Q1
Quarterly Report 2026
Internal
Picture: OMV Petrom's gas hub at Hurezani
Content
Directors' report (condensed, unaudited) 4
Group performance 5
Outlook 2026 10
Business segments 11
Exploration and Production 12
Refining and Marketing 14
Gas and Power 15
Interim condensed consolidated financial statements with selected notes (unaudited) 17
Declaration of the management 27
Further information 28
DisclaimerThis report does not, and is not intended to, constitute or form part of, and should not be construed as, constituting or for ming part of, any actual offer to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares issued by OMV Petrom S.A. (the Company) or any of its subsidiaries in any jurisdiction or any inducement to enter into investment activity; nor shall this document or any part of it, or the fact of it being made available, form the basis of, or be relied on in any way whatsoever. No part of this report, nor the fact of its distribution, shall form part of or be relied on in connection with any contract or investment decision relating thereto; nor does it constitute a recommendation regarding the securities issued by the Company. The information and opinions contained in this report are provided as at the date of this report and may be subject to updating, revision, amendment or change without notice. Where this report quotes any information or statistics from any external source, it should not be interpreted that the Company has adopted or endorsed such information or statistics as being accurate.
No reliance may be placed for any purpose whatsoever on the information contained in this report, or any other material discu ssed verbally. No representation or warranty, express or implied, is given as to the accuracy, fairness or currentness of the information or the opinions contained in this document or on its completeness and no liability is accepted for any such information, for any loss howsoever arising, directly or indirectly, from any use of this report or any of its content or otherwise arising in connection therewith.
This report may contain forward-looking statements. These statements reflect the Company's current knowledge and its expectations and projections about futur e events and may be identified by the context of such statements or words such as "anticipate," "believe", "estimate", "expect", "intend", "plan", "project", "target", "may", "will", "would", "could" or "should" or similar terminology. By their nature, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control that could cause the Company's actual results and performance to differ materially from any expected future results or performance expressed or implied by any forward-looking statements.
None of the future projections, expectations, estimates or prospects in this report should in particular be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared or the information and statements contained herein are accurate or complete. As a result of these risks, uncertainties and assumptions, you should in particular not place reliance on these forward-looking statements as a prediction of actual results or otherwise. This report does not purport to contain all information that may be necessary in respect of the Company or its shares and in any event each person receiving this report needs to make an independent assessment. The Company undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this report that may occur due to any change in its expectations or to reflect events or circumstances after the date of this report. This report and its contents are proprietary to the Company and neither this document nor any part of it may be reproduced or redistributed to any other person.
OMV Petrom Group resultsi for January - March 2026
including interim unaudited condensed consolidated financial statements as of and for the period ended March 31, 2026
Highlights Q1/26ii
OMV Petrom Group
▶ Clean CCS Operating Result at RON 1.5 bn, 16% higher, on improved G&P and R&M results
▶ Clean CCS net income attributable to stockholders of the parent at RON 1.1 bn, up by 5%
▶ Cash flow from operating activities at RON 2.7 bn
▶ CAPEX at RON 1.6 bn, 14% higher, mainly reflecting increased investments in low and zero carbon projects
▶ Free cash flow after dividends at RON 0.6 bn vs. RON 1.1 bn in Q1/25, reflecting higher investments
▶ Clean CCS ROACE at 14%, 1 pp higher
▶ TRIR: 0.45 (Q1/25: 0.36)iii
Exploration and Production
▶ Clean Operating Result at RON 660 mn vs. RON 827 mn in Q1/25, mainly reflecting lower gas prices, lower oil sales volumes and unfavorable FX effect, partly compensated by higher oil prices
▶ Production decreased by 3.1%, with gas production up by 1.7%, the contribution of workovers and new wells partly
offsetting the natural decline
▶ Unit production cost at USD 18.7/boe, increased by 10%, mainly due to unfavorable FX and lower oil production volumes, partly compensated by cost optimization measures despite high inflationary pressure
Refining and Marketing
▶ Clean CCS Operating Result at RON 506 mn vs. RON 395 mn in Q1/25, reflecting mainly higher refining margin and sales volumes, partly offset by significantly lower marketing margins
▶ OMV Petrom indicator refining margin at USD 14.3/bbl, up by 74%, supported by strong middle distillate crack spreads
▶ Refinery utilization rate at 98%, unchanged yoy and maintained high to benefit from the strong refining margin environment
▶ Retail sales volumes increased by 4%
Gas and Power
▶ Clean Operating Result at RON 339 mn vs. RON (86) mn in Q1/25, with very good contribution from both business lines
▶ Higher total gas sales volumes at 16.1 TWh, on larger volumes sold to wholesales, end users and higher power plant offtake
▶ Higher Brazi power plant output, a 32% increase to 1.6 TWh, accounting for 11% of Romania's generation mix
Key events
▶ Ordinary General Meeting of Shareholders (OGMS) approved in April the Executive Board's proposal for a 2025 base
dividend per share of RON 0.0466 (up by 5% yoy) and a special dividend per share of RON 0.0112 (down by 44% yoy)
▶ Three wind projects of around 300 MW entered the execution phase under the OMV Petrom - Renovatio Group partnership
▶ OMV Petrom announced the completion of drilling operations in the Han Asparuh block; the two exploration wells did not encounter significant gas volume
▶ OMV Petrom exited the FTSE Russell Emerging Markets indices on March 23, as a result of not meeting the liquidity
eligibility criterion
▶ OMV Petrom progressed in the development of green hydrogen production at Petrobrazi: first module for the 20-MW green hydrogen project has been delivered
▶ OMV Petrom joins Shell and TPAO in an exploration project in Han Tervel block, offshore Bulgaria; OMV Petrom will hold
a 25% stake, joining operator Shell (42%) and TPAO (33%) - subject to regulatory approval
▶ OMV Petrom started a ~7 MW photovoltaic project at Petrobrazi refinery
i The financials are unaudited and represent OMV Petrom Group's (herein after also referred to as "the Group") interim consolidated results prepared according to IFRS; all the figures refer to OMV Petrom Group, unless otherwise stated; financials are expressed in RON mn and rounded to the closest integer value, so minor differences may result upon reconciliation; OMV Petrom uses the National Bank of Romania exchange rates for its consolidation process.
ii All comparisons described relate to the same quarter in the previous year except where mentioned otherwise.
iii Total Recordable Injury Rate; the number of recordable injuries (fatalities + lost workday cases + restricted work day cases + medical treatment cases) per 1,000,000 hours worked.
Directors' report (condensed, unaudited)
Financial highlights
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
9,574 | 9,756 | 8,953 | 7 | Sales revenues 2 | 36,592 |
1,465 | 1,350 | 1,263 | 16 | Clean CCS Operating Result3 | 5,169 |
660 | 253 | 827 | (20) | Clean Operating Result Exploration and Production3,4 | 2,174 |
506 | 673 | 395 | 28 | Clean CCS Operating Result Refining and Marketing3 | 2,453 |
339 | 344 | (86) | n.m. | Clean Operating Result Gas and Power3 | 356 |
(35) | (30) | (27) | (30) | Clean Operating Result Co&O3 | (110) |
(6) | 110 | 154 | n.m. | Consolidation | 296 |
18 | 13 | 17 | 6 | Clean CCS Group effective tax rate (%) | 15 |
1,128 | 1,250 | 1,072 | 5 | Clean CCS net income3 | 5,059 |
1,128 | 1,250 | 1,072 | 5 | Clean CCS net income attributable to stockholders of the parent3,6 | 5,059 |
0.0181 | 0.0201 | 0.0172 | 5 | Clean CCS EPS (RON)3,6 | 0.0812 |
1,465 | 1,350 | 1,263 | 16 | Clean CCS Operating Result3 | 5,169 |
(499) | (1,873) | (15) | n.m. | Special items5 | (2,179) |
378 | (64) | (5) | n.m. | CCS effects: Inventory holding gains/(losses) | (235) |
1,343 | (587) | 1,242 | 8 | Operating Result Group | 2,756 |
632 | (1,889) | 790 | (20) | Operating Result Exploration and Production4 | (297) |
692 | 642 | 409 | 69 | Operating Result Refining and Marketing | 2,280 |
84 | 584 | (104) | n.m. | Operating Result Gas and Power | 570 |
(36) | (30) | (28) | (28) | Operating Result Co&O | (116) |
(29) | 107 | 176 | n.m. | Consolidation | 319 |
(88) | 89 | 30 | n.m. | Net financial result | 810 |
1,255 | (497) | 1,272 | (1) | Profit/(loss) before tax | 3,566 |
18 | 25 | 16 | 14 | Group effective tax rate (%) | 14 |
1,028 | (375) | 1,070 | (4) | Net income/(loss) | 3,058 |
1,028 | (375) | 1,070 | (4) | Net income/(loss) attributable to stockholders of the parent6 | 3,058 |
0.0165 | (0.0060) | 0.0172 | (4) | EPS (RON)6 | 0.0491 |
- | - | - | - | Total dividend/share (RON) | 0.05787 |
- | - | - | - | thereof base dividend/share (RON) | 0.04667 |
2,654 | 2,134 | 2,664 | (0) | Cash flow from operating activities | 9,000 |
634 | (117) | 1,092 | (42) | Free cash flow after dividends | (1,356) |
(5,772) | (5,176) | (8,097) | (29) | Net debt/(cash) including leases | (5,176) |
(7,610) | (7,170) | (10,146) | (25) | Net debt/(cash) excluding leases | (7,170) |
1,594 | 2,612 | 1,403 | 14 | Capital expenditure | 7,841 |
14.2 | 13.9 | 13.3 | 7 | Clean CCS ROACE (%)3 | 13.9 |
7.9 | 7.8 | 11.3 | (30) | ROACE (%) | 7.8 |
9,317 | 9,438 | 10,445 | (11) | OMV Petrom Group employees end of period | 9,438 |
0.45 | 0.68 | 0.36 | 23 | TRIR8 | 0.57 |
1 Q1/26 vs. Q1/25
2 Sales revenues excluding petroleum excise tax;
3 Adjusted for special items; Clean CCS (current cost of supply) figures exclude special items and inventory holding effects (CCS effects) resulting from Refining and Marketing;
4 Excluding intersegmental profit elimination shown in the line "Consolidation";
5 Special items, representing exceptional, non-recurring items, are added back or deducted from the Operating Result; for more details please refer to each specific segment;
6 After deducting net result attributable to non-controlling interests;
7 Total dividend includes RON 0.0466/share base dividend and RON 0.0112/share special dividend;
8 To align to CSRD requirements, OMV Petrom Global Solutions S.R.L. was excluded from the calculation of TRIR starting 2025. The figure for Q1/25 was restated.
Group performance
First quarter 2026 (Q1/26) vs. first quarter 2025 (Q1/25)
Consolidated sales revenues increased by 7% compared to Q1/25, mainly due to higher sales volumes and prices of petroleum products and higher sales volumes of electricity and natural gas, partially offset by lower prices of natural gas and electricity. Refining and Marketing segment represented 63% of total consolidated sales, Gas and Power segment accounted for 37%, while sales from Exploration and Production segment accounted only for 0.1% (sales in Exploration and Production being largely intra-group sales rather than third-party sales).The Clean CCS Operating Result amounted to RON 1,465 mn in Q1/26, higher compared to RON 1,263 mn in Q1/25, mainly driven by a positive and higher contribution of Gas and Power segment, as well as a higher result of the Refining and Marketing segment, partially offset by a lower contribution of the Exploration and Production segment. The Group Clean CCS effective tax rate was 18% (Q1/25: 17%). Clean CCS net income attributable to stockholders of the parent was RON 1,128 mn (Q1/25: RON 1,072 mn).
Special items comprised net charges of RON (499) mn, mainly related to net temporary losses from derivatives in the Gas and Power as well as Refining and Marketing segments. Inventory holding gains amounted to RON 378 mn in Q1/26, mainly as a result of the crude oil price evolution. In Q1/25, special items comprised net charges of RON (15) mn, while inventory holding losses amounted to RON (5) mn. Reported Operating Result for Q1/26 increased to RON 1,343 mn (Q1/25: RON 1,242 mn). Net financial result was a loss of RON (88) mn in Q1/26, compared to a gain of RON 30 mn in Q1/25, mainly due to lower interest income. Profit before tax for Q1/26 was RON 1,255 mn, slightly lower than RON 1,272 mn in Q1/25. Income tax amounted to RON (227) mn, while the effective tax rate was 18% in Q1/26 (Q1/25: 16%). Net income attributable to stockholders of the parent was RON 1,028 mn (Q1/25: RON 1,070 mn). Capital expenditure amounted to RON 1,594 mn in Q1/26, 14% higher than in Q1/25 (RON 1,403 mn), mainly directed to Exploration and Production, with investments of RON 1,094 mn (Q1/25: RON 1,056 mn), to Refining and Marketing, with investments of RON 354 mn (Q1/25: RON 286 mn), while Gas and Power investments amounted to RON 143 mn (Q1/25: RON 50 mn). Corporate and Other investments were RON 3 mn (Q1/25: RON 10 mn).Reconciliation of Clean CCS Operating Result to Reported Operating Result
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
1,465 | 1,350 | 1,263 | 16 | Clean CCS Operating Result | 5,169 |
(499) | (1,873) | (15) | n.m. | Special items | (2,179) |
(10) | (50) | (40) | 75 | thereof personnel restructuring | (175) |
- | (615) | - | n.a. | thereof unscheduled depreciation / write-ups | (810) |
(489) | (1,208) | 25 | n.m. | thereof other | (1,193) |
378 | (64) | (5) | n.m. | CCS effects: Inventory holding gains/(losses) | (235) |
1,343 | (587) | 1,242 | 8 | Operating Result Group | 2,756 |
1 Q1/26 vs. Q1/25
Clean CCS Operating Result represents Operating Result adjusted for Special items and CCS effects.
The disclosure of Special items is considered appropriate in order to facilitate the analysis of the ordinary business performance. To reflect comparable figures, certain items affecting the result are added back or deducted. They are being disclosed separately. These items can be divided into three categories: personnel restructuring, unscheduled depreciation and write-ups, and other.
Furthermore, to enable effective performance management in an environment of volatile prices and comparability with peers, the Current Cost of Supply (CCS) effect is eliminated from the accounting result. The CCS effect, also called inventory holding gains or losses, represents the difference between the cost of sales calculated using the current cost of supply and the cost of sales calculated using the weighted average method, after adjusting for any changes in valuation allowances, in case the net realizable value of the inventory is lower than its cost. In volatile energy markets, measurement of the costs of petroleum products sold based on historical values (e.g. weighted average cost) can have a distorting effect on the reported results. This performance measurement enhances the transparency of the results and is commonly used in the oil industry. OMV Petrom, therefore, published this measurement in addition to the Operating Result determined in accordance with IFRS.
Summarized interim consolidated statement of financial position (unaudited)
in RON mn | March 31, 2026 | December 31, 2025 |
Assets | ||
Non-current assets | 43,852 | 43,380 |
Current assets | 18,055 | 17,394 |
Total assets | 61,906 | 60,774 |
Equity and liabilities | ||
Total equity | 39,204 | 38,178 |
Non-current liabilities | 12,115 | 12,381 |
Current liabilities | 10,587 | 10,215 |
Total equity and liabilities | 61,906 | 60,774 |
Compared to December 31, 2025, non-current assets increased by RON 472 mn, to RON 43,852 mn, mainly due to increase in property, plant and equipment, as additions during the period exceeded the depreciation.
The increase in current assets reflected higher trade receivables in Refining and Marketing as well as in Gas and Power segments, higher cash and cash equivalents as well as higher inventories, mainly due to higher value of crude oil and petroleum products in stock, partly offset by lower natural gas volumes in storage. These increases were partially compensated by the lower other assets, largely due to the surrender of emission certificates.
Equity increased to RON 39,204 mn as of March 31, 2026, compared to RON 38,178 mn as of December 31, 2025, mainly as a result of the net profit generated in the current period. The Group's equity ratio was 63% as of March 31, 2026, same as the level as of December 31, 2025.As at March 31, 2026, total liabilities increased by RON 106 mn compared with December 31, 2025. Current liabilities increased following higher trade payables mainly due to higher acquisitions, higher financial liabilities in relation with derivatives and higher income tax liabilities, partly offset by the lower other provisions, largely in relation to the surrender of emission certificates. The decrease in non-current liabilities was mainly due to lower provisions for decommissioning and restoration obligations and lower lease liabilities.
Cash flow
Q1/26 | Q4/25 | Q1/25 | Δ%1 | Summarized cash-flow statement (in RON mn) | 2025 |
3,058 | 1,763 | 2,218 | 38 | Cash generated from operating activities before working capital movements | 8,233 |
2,654 | 2,134 | 2,664 | (0) | Cash flow from operating activities | 9,000 |
(1,960) | (1,073) | (1,571) | (25) | Cash flow from investing activities | (6,432) |
694 | 1,062 | 1,093 | (36) | Free cash flow | 2,569 |
(288) | (1,426) | (164) | (76) | Cash flow from financing activities | (4,585) |
2 | 1 | (2) | n.m. | Effect of exchange rate changes on cash and cash equivalents | (1) |
408 | (364) | 927 | (56) | Net increase/(decrease) in cash and cash equivalents | (2,017) |
7,202 | 7,566 | 9,219 | (22) | Cash and cash equivalents at beginning of period | 9,219 |
7,610 | 7,202 | 10,146 | (25) | Cash and cash equivalents at end of period | 7,202 |
634 | (117) | 1,092 | (42) | Free cash flow after dividends | (1,356) |
1 Q1/26 vs. Q1/25
First quarter 2026 (Q1/26) vs. first quarter 2025 (Q1/25)
In Q1/26, the profit before tax, adjusted for non-cash items such as depreciation and impairments, net change of provisions and for other adjustments, as well as net interest received and income tax paid, resulted in net cash inflow of RON 3,058 mn (Q1/25: RON 2,218 mn). Changes in net working capital generated a cash outflow of RON 404 mn (Q1/25: inflow of RON 445 mn), mainly from increase in trade receivables in Q1/26. Cash flow from operating activities was fairly stable as compared to Q1/25, reaching RON 2,654 mn.
In Q1/26, cash flow from investing activities resulted in an outflow of RON 1,960 mn (Q1/25: RON 1,571 mn), mainly related to payments for investments in property, plant and equipment, largely in the Exploration and Production segment, while Q1/25 reflected also investments in short-term securities.
Free cash flow (defined as cash flow from operating activities less cash flow from investing activities) showed an inflow of funds of RON 694 mn (Q1/25: RON 1,093 mn). Cash flow from financing activities reflected an outflow of funds amounting to RON 288 mn (Q1/25: RON 164 mn). Free cash flow after dividends resulted in a cash inflow of RON 634 mn (Q1/25: RON 1,092 mn).Risk management
The scope of OMV Petrom's business activity, both existing and planned, and the markets in which the company operates expose the Group to significant commodity price, foreign exchange, operational, strategic and ESG risks. A detailed description of these risks and associated risk management activities can be found in the 2025 Annual Report.
The main uncertainties which could impact the Group's performance remain the commodity price risks, foreign exchange risks, operational risks, as well as geopolitical and regulatory risk. Commodity price risk is monitored continuously and appropriate protective measures with respect to cash flow are taken, if required. Through the nature of its business of extracting, processing, transporting and selling hydrocarbons, OMV Petrom is inherently exposed to safety and environmental risks, which
are monitored through HSSE (Health, Safety, Security, and Environment) and risk management programs. OMV Petrom remains committed to be in line with industry standards.
In terms of regulatory risk, the company is in dialogue with the Romanian authorities on topics of relevance for the industry. In the last few years, we have seen a significant number of fiscal and regulatory initiatives implemented (such as subsidy schemes, regulated/capped prices for gas and power, over taxation or the EU and national solidarity contribution, tax on special constructions and oil and gas turnover tax). This increases legislative volatility with influence on the overall business environment.
Recent escalations in the Middle East involving Iran, the USA, and Israel have triggered significant volatility in global energy markets. Military activities and restrictions imposed by Iran on shipping through the Strait of Hormuz - a critical transit route for about 20% of global oil and gas - have driven commodity prices sharply higher, disrupted global supply chains, and amplified market uncertainty. Given persistent instability, further price increases and inflationary pressures across multiple sectors remain possible.
While oil price and refining margins remain at an elevated level, increased regulations and government interventions - such as the margin caps at 2025 average level or the solidarity contribution introduced in Romania starting with April 2026 in the context of declared state of crisis following escalations in Middle East - would likely limit the upside during the state of crisis period.
OMV Petrom regularly assesses the potential risks associated with the ongoing conflict in Ukraine, including the possible impact of additional sanctions, changes in Russian commodity flows, disruptions to global supply chains, and the continuing threat of cyberattacks on its business activities.
OMV Petrom is closely monitoring potential impacts on supply security, logistics, and price developments to ensure business continuity and the reliable supply to its customers.
Additionally, increasing tensions in other parts of the world could impact global trade routes and supply security. The introduction of sanctions against certain countries could result in restrictions on international trade and increased regulatory risks.
Geoeconomic fragmentation, trade wars and changes in global supply chains could lead to cost increases for OMV Petrom, as well as volatile commodity prices. These could also negatively impact economic growth, which in turn, could affect demand for OMV Petrom's products.
Furthermore, the increase in geopolitically motivated attacks, whether physical or cyber-based (hybrid warfare), poses a growing threat to OMV Petrom's IT and OT (Information Technology and Operational Technology) infrastructure and the operational security. This threat landscape requires permanent surveillance of implemented security perimeters and targeted countermeasures to keep the security maturity standards on adequate levels.
The credit quality of OMV Petrom's counterparty portfolio could also be negatively influenced by the risk factors mentioned
above. OMV Petrom monitors its counterparties exposures as part of its standard credit risk management processes.
Overall, the consequences of increasing geopolitical volatility, including the multiple ongoing conflicts around the world, as well as resulting regulatory measures, other economic disruptions currently being observed, and further regulatory interventions, cannot be reliably estimated at this stage. From today's perspective, we assume that, based on the measures mentioned above, the Group's ability to continue its business operations is not materially affected.
OMV Petrom continues to closely monitor developments and regularly evaluates the potential impact on the Group's cash flow and liquidity position. The geopolitical context continued to have no significant negative impact on the interim condensed consolidated financial statements as of March 31, 2026, similar as in the previous year.
The Company revises periodically its sensitivities to oil prices, the indicator refining margin and FX (EUR/USD), which are published on company website: Capital Market Story | OMVPetrom.com. In the context of the ongoing crisis in the Middle East, the associated market disruptions and increased government interventions have materially affected the usual correlations and trends, thus the sensitivities of OMV Petrom operating result to crude oil prices and indicator refining margins have only limited relevance.
More information on current risks can be found in the Outlook section of the Directors' Report.
Transactions with related parties
Please refer to the selected explanatory notes of the interim condensed consolidated financial statements for disclosures on significant transactions with related parties.
Outlook for the full year 2026
The recent Middle East conflict has significantly increased volatility in the global energy markets and led to disrupted supply chains, higher commodity prices, and heightened overall market uncertainty across oil, gas and fuels prices and trading flows. Accordingly, based on information available at the time of publication, this outlook represents our current assessment of the market and is based on the assumptions that restrictions on shipping through the straight of Hormuz are lifted, at least to a large extent, before the end of the first half of 2026. Actual outcomes may differ materially should geopolitical developments evolve beyond current assumptions. Market environment▶ For the full year 2026, OMV Petrom expects the average Brent oil price to be between USD 85/bbl and USD 95/bbl (previously around USD 65/bbl; 2025: USD 69.1/bbl).
▶ Indicator refining margin is expected to be above USD 10/bbl (previously around USD 9/bbl; 2025: USD 12.4/bbl).
However, the caps on refining margins for diesel and gasoline imposed by the Romanian government for Q2/26 will temporarily reduce the effectiveness of the indicator refining margin as a metric for evaluating R&M profitability.
▶ In Romania, demand for retail fuels and power is expected to be stable yoy; gas demand is also expected to be stable
yoy (previously: slightly higher yoy).
▶ In March 2026, the government issued a new emergency ordinance by which the natural gas market for household consumers as well as for heat generation in cogeneration plants and thermal power plants for households consumption remains regulated until the end of Q1/27. This translates into a reduction in scope of the previous regulation.
▶ The applicability of the tax on turnover introduced in 2024 (0.5% for OMV Petrom S.A. and OMV Petrom Marketing
S.R.L.), initially announced to expire at the end of 2025, was extended for one more year, until end-2026. It is estimated to have a total annual impact of below RON 250 mn in 2026 (2025: RON 205 mn). As per current regulations, the tax is to be eliminated as of January 1, 2027.
▶ A 0.5% tax on the net value (cost less depreciation) of certain constructions is applicable as of January 1, 2025. The
estimated impact for 2026 is of mid double-digit million RON (2025: RON 69 mn). As per current regulations, the tax is to be eliminated as of January 1, 2027.
▶ In March 2026, triggered by the Middle East conflict, the Romanian state declared a crisis situation for the oil and fuels
markets for an initial period of 3 months ending in June 2026. In Q2/26, the interventions from the Romanian government impacting OMV Petrom reduce the upside at the Group level by limiting the R&M margins at prior year levels for gasoline and diesel, and by introducing a solidarity contribution in E&P, depending on the average Brent quotations for the respective month.
Financial highlights▶ Total net CAPEX up to RON 9.4 bn, of which organic around RON 9 bn (2025 total net CAPEX at RON 7.8 bn, of which organic at RON 7.7 bn). We plan increased investments mainly dedicated to Neptun Deep, as well as low and zero carbon projects, mostly SAF/HVO and renewables. Investments require competitive, predictable and stable regulatory and fiscal environment.
▶ We expect negative free cash flow before dividends, in the context of new record high investments (2025: RON 2.6
bn).
▶ Attractive returns to shareholders: for 2025, the OGMS approved a total gross dividend per share (DPS) of RON 0.0578, comprising of a base DPS of RON 0.0466, up 5% yoy, and a special DPS of RON 0.0112, 44% down yoy. Total dividend payout from 2025 OCF at 40% and total dividend yield at 5.8%iv.
Strategic direction: Optimize traditional business Exploration and Production▶ Production: expected to be above 100 kboe/d (2025: 104.5 kboe/d), no divestments impact considered.
▶ CAPEX: around RON 5.6 bn (2025: RON 5.6 bn), of which more than half is for Neptun Deep. We plan to drill around 35 new wells and sidetracks and perform around 550 workovers (2025: 31 new wells and sidetracks and 542 workovers).
iv Using the share price on 30 December 2025 of RON 0.995
▶ Exploration expenditures: estimated around RON 0.3 bn, reflecting intensified exploration activity both onshore and offshore.
▶ Production license extension: we expect implementation of the agreement with the Romanian state on the 15-year
extension of production licenses in Q2/26.
Refining and Marketing▶ The refinery utilization rate is estimated at above 95% (2025: 93%, impacted by the planned shutdown in Q2/25).
▶ Total refined product sales are forecasted to be higher yoy (2025: 5.5 mn t); retail fuel sales are expected to be stable yoy (2025: 3.2 mn t).
Gas and Power▶ Total gas sales volumes are estimated to be lower yoy (2025: 48.3 TWh).
▶ Net electrical output is forecasted to be higher yoy (2025: 4.7 TWh); the Brazi power plant will be in planned shutdown in Q2/26: 26 days for full capacity in April, and the rest of the quarter for half capacity (2025: 19 days planned shutdown for full capacity and an 8-day extension of the shutdown for half capacity).
Strategic direction: Grow regional gas▶ Neptun Deep offshore Romania: we will focus on drilling the development wells in the Domino field and installing the subsea systems, linepipe, jacket and topsides.
▶ Offshore exploration in the Neptun block: we are performing preparatory activities for the Anaconda-1 deepwater
well, expected to be drilled after the Neptun Deep development drilling is completed.
▶ Han Asparuh offshore Bulgaria: we are evaluating the exploration drilling data to decide on the next steps.
▶ Han Tervel offshore Bulgaria: farm-in transaction pending customary approval from the Bulgarian government.
Strategic direction: Transition to low and zero carbon▶ We target to reduce Scope 1-2 GHG absolute emissions by 30% until 2030 vs. 2019 (2025: ~19% lower vs. 2019).
▶ Progress in developing the renewable power portfolio: we focus on bringing our project portfolio into execution phase and then gradually ramp up electricity production between 2027-2029.
▶ With regards to biofuels, we plan to further advance with the construction of the SAF/HVO unit with first production
expected in 2028.
▶ E-mobility: continue the expansion of the EV charging network in the region, with the ambition to reach around 1,500 units at year-end, both in our filling stations and other locations (end-2025: around 1,350 charging points).
More details will be communicated at the Capital Markets Day planned in the second half of 2026.
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
1,321 | 923 | 1,396 | (5) | Clean Operating Result before depreciation and amortization, impairments and write-ups2 | 4,563 |
660 | 253 | 827 | (20) | Clean Operating Result2 | 2,174 |
(27) | (2,143) | (37) | 26 | Special items | (2,471) |
632 | (1,889) | 790 | (20) | Operating Result2 | (297) |
1,094 | 1,746 | 1,056 | 4 | Capital expenditure3 | 5,648 |
102 | 19 | (9) | n.m. | Exploration expenditures | 50 |
89 | 23 | 11 | n.m. | Exploration expenses | 62 |
18.72 | 17.67 | 17.02 | 10 | Production cost (USD/boe) | 17.84 |
Business segments Exploration and Production
Q1/26 | Q4/25 | Q1/25 | Δ%1 | Key performance indicators | 2025 |
104.2 | 103.5 | 107.5 | (3) | Total hydrocarbon production (kboe/d) | 104.5 |
45.8 | 46.7 | 50.1 | (9) | thereof crude oil and NGL production (kbbl/d) | 48.3 |
58.4 | 56.8 | 57.4 | 2 | thereof natural gas production (kboe/d) | 56.3 |
9.38 | 9.52 | 9.68 | (3) | Total hydrocarbon production (mn boe) | 38.15 |
4.12 | 4.29 | 4.51 | (9) | Crude oil and NGL production (mn bbl) | 17.62 |
0.80 | 0.80 | 0.79 | 2 | Natural gas production (bcm) | 3.14 |
28.39 | 28.24 | 27.90 | 2 | Natural gas production (bcf) | 110.87 |
8.97 | 9.07 | 9.20 | (3) | Total hydrocarbon sales volume (mn boe) | 36.35 |
99.6 | 98.6 | 102.2 | (3) | Total hydrocarbon sales volume (kboe/d) | 99.6 |
48.3 | 48.6 | 52.3 | (8) | thereof crude oil and NGL sales volume (kbbl/d)4 | 50.3 |
51.4 | 50.0 | 49.9 | 3 | thereof natural gas sales volume (kboe/d) | 49.3 |
81.13 | 63.73 | 75.73 | 7 | Average Brent price (USD/bbl) | 69.11 |
70.77 | 54.66 | 66.11 | 7 | Average realized crude price (USD/bbl) | 59.87 |
1 Q1/26 vs. Q1/25;
2 Excluding intersegmental profit elimination;
3 Including capitalized exploration and appraisal and aquisitions;
4 Includes sales of liquids obtained from separation and processing of rich natural gas; rich natural gas production is included under natural gas production above.
First quarter 2026 (Q1/26) vs. first quarter 2025 (Q1/25)
▶ Clean Operating Result at RON 660 mn vs. RON 827 mn in Q1/25, mainly reflecting lower gas prices, lower oil sales volumes and unfavorable FX effect, partly compensated by higher oil prices
▶ Production decreased by 3.1%, with gas production up by 1.7%, the contribution of workovers and new wells
partly offsetting the natural decline▶ Unit production cost at USD 18.7/boe, increased by 10%, mainly due to unfavorable FX and lower oil production volumes, partly compensated by cost optimization measures despite high inflationary pressure
Clean Operating Result was RON 660 mn vs. RON 827 mn in Q1/25, mainly driven by lower gas prices, lower oil sales volumes, unfavorable FX effect, as well as higher exploration expenses, partly compensated by higer oil prices, lower E&P taxation, higher gas sales volumes, and cost optimization measures. Special items amounted to RON (27) mn, mainly reflecting hedging and restructuring costs (Q1/25: RON (37) mn). Reported Operating Result was RON 632 mn vs. RON 790 mn in Q1/25. Hydrocarbon production decreased by 3.1% to 9.4 mn boe or 104.2 kboe/d (Q1/25: 9.7 mn boe or 107.5 kboe/d), mainly due to natural decline in main fields, partly offset by the contribution of workovers and new wells. Crude oil and NGL production dropped by 8.6% to 4.1 mn bbl, mostly due to natural decline, and also due to some temporary impact of adverse weather, while gas production increased by 1.7% to 5.3 mn boe. Hydrocarbon sales volumes decreased by 3%, in line with production decline. Unit production cost increased by 10% to USD 18.7/boe, reflecting unfavorable FX (weaker USD vs. RON) and lower volumes available for sale, partly compensated by lower costs (mainly lower personnel expenses) despite high inflationary pressure. Production cost in RON terms increased by 1% to RON 81.5/boe. Exploration expenditures amounted to RON 102 mn, mainly due to higher drilling expenditures. Exploration expenses increased to RON 89 mn, mainly due to write-off of costs related to offshore exploration drilling campaign in Bulgaria. Capital expenditure increased by 4% to RON 1,094 mn, mainly due to higher investments in complex workover jobs, partially offset by lower investments for running business projects.In 3m/26, we finalized the drilling of seven new wells and sidetracks, thereof two exploration wells (3m/25: six new wells and sidetracks, thereof no exploration well)v.
v excluding the wells drilled within production enhancement contracts (no well in 3m/26 and one in 3m/25) and the Neptun Deep development wells
Refining and Marketing
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
729 | 903 | 619 | 18 | Clean CCS Operating Result before depreciation and amortization, impairments and write-ups2 | 3,342 |
506 | 673 | 395 | 28 | Clean CCS Operating Result 2 | 2,453 |
(215) | 30 | 41 | n.m. | Special items | 85 |
401 | (61) | (27) | n.m. | CCS effect: Inventory holding gains/(losses)2 | (258) |
692 | 642 | 409 | 69 | Operating Result | 2,280 |
354 | 786 | 286 | 24 | Capital expenditure | 1,812 |
Q1/26 | Q4/25 | Q1/25 | Δ%1 | Key performance indicators | 2025 |
14.31 | 16.75 | 8.23 | 74 | Indicator refining margin (USD/bbl)3 | 12.36 |
1.15 | 1.21 | 1.16 | (1) | Refining input (mn t)4 | 4.45 |
98 | 100 | 98 | (0) | Refinery utilization rate (%) | 93 |
1.33 | 1.44 | 1.20 | 11 | Total refined product sales (mn t)5 | 5.48 |
0.73 | 0.81 | 0.70 | 4 | thereof retail sales volumes (mn t)6 | 3.21 |
1 Q1/26 vs. Q1/25;
2 Current cost of supply (CCS): the Clean CCS Operating Result eliminates special items and inventory holding gains/losses (CCS effects) resulting from Refining and Marketing;
3 The actual refining margins realized by OMV Petrom may vary from the indicator refining margin due to different crude slate, product yield and operating conditions;
4 Figures include crude and semi-finished products, in line with the OMV Group reporting standard;
5 Total refined product sales include also third-party acquisitions;
6 Retail sales volumes refer to sales via the OMV Petrom Group's filling stations in Romania, Bulgaria, Serbia, Moldova.
First quarter 2026 (Q1/26) vs. first quarter 2025 (Q1/25)
▶ Clean CCS Operating Result at RON 506 mn vs. RON 395 mn in Q1/25, reflecting mainly higher refining margin and sales volumes partly offset by significantly lower marketing margins
▶ OMV Petrom indicator refining margin at USD 14.3/bbl, up 74%, supported by strong middle distillate crack
spreads▶ Retail sales volumes increased by 4%
Clean CCS Operating Result increased to RON 506 mn in Q1/26 (Q1/25: RON 395 mn), reflecting mainly higher refining margin, strong utilization rate and increased sales volumes, partly offset by significantly lower marketing margins. Reported Operating Result of RON 692 mn (Q1/25: RON 409 mn), reflected positive CCS effects of RON 401 mn due to higher crude oil quotations (Q1/25: RON (27) mn negative effects), and RON (215) mn net special loss (Q1/25: RON 41 mn net special gain), mainly in relation to crude oil and CO2 hedges. OMV Petrom indicator refining margin increased by USD 6.1/bbl to USD 14.3/bbl in Q1/26, driven by strong middle distillate crack spreads in the context of the Middle East conflict. The refinery utilization rate reached 98% in Q1/26 (Q1/25: 98%), maintained high to benefit from the strong refining margin environment. Total refined product sales volumes were 11% higher compared to Q1/25. Group retail sales volumes, which accounted for 55% of total refined product sales, increased by 4% in Q1/26, while non-retail volumes increased by 21%, mainly due to higher export and commercial sales. Retail and commercial margins were significantly lower due to our moderate pricing policy in the context of sharply increasing market quotations for fuel products. Performance of the non-fuel business slightly decreased. Capital expenditure increased to RON 354 mn (Q1/25: RON 286 mn), supported mainly by higher investments for the construction of the SAF/HVO unit.Gas and Power
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
380 | 385 | (47) | n.m. | Clean Operating Result before depreciation and amortization, impairments and write-ups | 512 |
339 | 344 | (86) | n.m. | Clean Operating Result | 356 |
(255) | 240 | (18) | n.m. | Special items | 214 |
84 | 584 | (104) | n.m. | Operating Result | 570 |
143 | 58 | 50 | 185 | Capital expenditure | 309 |
Q1/26 | Q4/25 | Q1/25 | Δ%1 | Key performance indicators | 2025 |
16.08 | 14.00 | 13.10 | 23 | Gas sales volumes (TWh) | 48.33 |
12.44 | 10.60 | 10.26 | 21 | thereof to third parties (TWh) | 37.88 |
1.63 | 1.56 | 1.23 | 32 | Net electrical output Brazi power plant (TWh) | 4.67 |
603 | 612 | 668 | (10) | OPCOM spot average electricity base load price (RON/MWh) | 546 |
1 Q1/26 vs. Q1/25.
First quarter 2026 (Q1/26) vs. first quarter 2025 (Q1/25)
▶ Clean Operating Result at RON 339 mn vs. RON (86) mn in Q1/25, with very good contribution from both business lines
▶ Higher gas sales volumes, at 16.1 TWh, on larger volumes sold to wholesales, end users and higher power plant
offtake▶ Higher Brazi power plant output, a 32% increase to 1.6 TWh, accounting for 11% of Romania's generation mix
Clean Operating Result was RON 339 mn in Q1/26 (Q1/25: RON (86) mn), driven by very good results across both gas and power business lines, supported by increased margin from Brazi power plant in the context of power market deregulation, as well as by higher gas sales volumes and margins. Reported Operating Result of RON 84 mn (Q1/25: RON (104) mn) reflected RON (255) mn net special charges, mainly in relation to temporary valuation effects related to forward contracts for electricity and CO2.In the gas business, the result was built on the highest quarterly level of gas sales volumes since Q1/20, with strong sales to both wholesales and end users, at higher realized margins yoy overall.
The result of our power business reflected also an excellent operational performance supported by market de-regulation starting July 2025. Brazi power plant achieved the second highest quarterly level since the start of operations in 2012. The strong result also reflected improved margin from volumes bought from third parties and very good contribution from the balancing and ancillary services markets.
As per OMV Petrom's estimates, national gas consumption was 5% higher compared Q1/25, from cold weather, supporting households and SMEs consumption, coupled with higher gas to power consumption.
On the Romanian centralized markets, the weighted average price of natural gas for transactions with medium and long-term standardized products concluded in Q1/26, irrespective of delivery period was RON 179/MWhvi,vii (Q1/25: RON 228/MWh). The average price for the quantities delivered during the quarter was RON 195/MWh (Q1/25: RON 244/MWh)viii. Regarding
vi OMV Petrom estimates based on available public information
vii Standard products refers to all products offered on BRM trading platform i.e. weekly products, monthly products, quarterly products, gas-year products etc. and the price could include storage related tariffs in connection with the gas volumes sold/extracted from storage
viii Based on monthly data, as published by BRM on https://brm.ro/statistici-monitorizare-piete-gaze-naturale/, retrieved on April 14th, 2026
short-term deliveries, on the BRM day-ahead market, the average priceix in Q1/26 was RON 199/MWh (Q1/25: RON 255/MWh).
In Q1/26, OMV Petrom's total gas sales volumes were 23% higher yoy, highest in the last six years, at 16.1 TWh, with larger volumes sold to the wholesales market and to end user customers. Gas sales to third parties recorded a 21% increase vs. Q1/25, with lower volumes to households and district heating for households of 2.9 TWh (Q1/25: 3.3 TWh). Gas sales volumes in Romania were 25% higher yoy at 14.5 TWh, over 70% being covered by equity gas and the rest from third party sources.
At the end of Q1/26, OMV Petrom had 0.2 TWh natural gas in storage (end of Q1/25: 0.8 TWh).
On the centralized markets, OMV Petrom sold 1.0 TWh in standard products in Q1/26, independent of the delivery period, at an average price in line with the market priceix.
As per currently available information from the grid operator, national electricity consumption slightly increased by 1% in Q1/26 compared to Q1/25, while national production increased by 10%, Romania being a net power importer in both Q1/26 and Q1/25.
In Q1/26, the Brazi power plant generated 1.6 TWh (Q1/25: 1.2 TWh) net electrical output, the second highest quarterly level since the start of operations in 2012, accounting for 11% in Romania's generation mix and contributing to the balancing and ancillary services markets. Also, renewable assets held in partnership, already operational, have contributed to the national generation mix with a total green power production of 0.02 TWh, however, not reflected in our key performance indicators.
Capital expenditure amounted to RON 143 mn in Q1/26 (Q1/25: RON 50 mn), mainly triggered by progress made on the renewable power portfolio, while Q1/25 mainly reflected the acquisition of OMV Gas Marketing & Trading Hungaria Kft and investments in Brazi power plant.ix Average computed based on daily trades published on BRM platform
Interim condensed consolidated financial statements with selected notes as of and for the period ended March 31, 2026 (unaudited)
Interim condensed consolidated income statement (unaudited)
Q1/26 | Q4/25 | Q1/25 | in RON mn | 2025 |
9,574.28 | 9,755.85 | 8,953.30 | Sales revenues | 36,591.87 |
143.07 | 37.58 | 155.83 | Other operating income | 678.20 |
(4.01) | (0.51) | (0.84) | Net income/(loss) from equity-accounted investments | (4.96) |
9,713.34 | 9,792.92 | 9,108.29 | Total revenues and other income | 37,265.11 |
(4,718.31) | (4,784.90) | (4,076.97) | Purchases (net of inventory variation) | (18,221.83) |
(1,404.00) | (1,183.63) | (1,419.36) | Production and operating expenses | (4,966.37) |
(284.70) | (296.40) | (570.17) | Production and similar taxes | (1,408.21) |
(867.93) | (1,562.78) | (843.06) | Depreciation, amortization, impairments and write-ups | (4,286.10) |
(793.89) | (827.58) | (792.87) | Selling, distribution and administrative expenses | (3,301.47) |
(88.54) | (23.44) | (11.31) | Exploration expenses | (61.92) |
(212.48) | (1,700.80) | (152.38) | Other operating expenses | (2,263.36) |
1,343.49 | (586.61) | 1,242.17 | Operating Result | 2,755.85 |
124.53 | 257.35 | 195.25 | Interest income | 1,420.57 |
(189.64) | (163.12) | (172.59) | Interest expenses | (627.21) |
(23.19) | (5.05) | 6.99 | Other financial income and expenses | 16.58 |
(88.30) | 89.18 | 29.65 | Net financial result | 809.94 |
1,255.19 | (497.43) | 1,271.82 | Profit/(loss) before tax | 3,565.79 |
(227.08) | 122.37 | (202.21) | Taxes on income | (507.62) |
1,028.11 | (375.06) | 1,069.61 | Net income/(loss) for the period | 3,058.17 |
1,028.08 | (375.09) | 1,069.59 | thereof attributable to stockholders of the parent | 3,058.03 |
0.03 | 0.03 | 0.02 | thereof attributable to non-controlling interests | 0.14 |
0.0165 | (0.0060) | 0.0172 | Basic and diluted earnings per share (RON) | 0.0491 |
Interim condensed consolidated statement of comprehensive income (unaudited)
Q1/26 | Q4/25 | Q1/25 | in RON mn | 2025 |
1,028.11 | (375.06) | 1,069.61 | Net income/(loss) for the period | 3,058.17 |
(1.71) | 2.36 | (0.06) | Currency translation differences | 20.05 |
(1.71) | 2.36 | (0.06) | Total of items that may be reclassified ("recycled") subsequently to the income statement | 20.05 |
- | (6.90) | - | Remeasurement gains/(losses) on defined benefit plans | (6.90) |
- | (6.90) | - | Total of items that will not be reclassified ("recycled") subsequently to the income statement | (6.90) |
- | 1.01 | - | Income tax relating to items that will not be reclassified ("recycled") subsequently to the income statement | 1.01 |
- | 1.01 | - | Total income taxes relating to components of other comprehensive income | 1.01 |
(1.71) | (3.53) | (0.06) | Other comprehensive income/(loss) for the period, net of tax | 14.16 |
1,026.40 | (378.59) | 1,069.55 | Total comprehensive income/(loss) for the period | 3,072.33 |
1,026.37 | (378.62) | 1,069.53 | thereof attributable to stockholders of the parent | 3,072.18 |
0.03 | 0.03 | 0.02 | thereof attributable to non-controlling interests | 0.15 |
Interim condensed consolidated statement of financial position (unaudited)
in RON mn | March 31, 2026 | December 31, 2025 |
Assets | ||
Intangible assets | 882.41 | 868.98 |
Property, plant and equipment | 37,843.34 | 37,370.13 |
Equity-accounted investments | 469.33 | 473.34 |
Other financial assets | 1,354.97 | 1,376.49 |
Other assets | 834.56 | 836.72 |
Deferred tax assets | 2,467.04 | 2,454.03 |
Non-current assets | 43,851.65 | 43,379.69 |
Inventories | 3,539.45 | 3,303.09 |
Trade receivables | 3,218.27 | 2,661.44 |
Other financial assets | 2,508.31 | 2,361.85 |
Other assets | 1,178.22 | 1,865.58 |
Cash and cash equivalents | 7,610.37 | 7,201.97 |
Current assets | 18,054.62 | 17,393.93 |
Total assets | 61,906.27 | 60,773.62 |
Equity and liabilities | ||
Share capital | 6,231.17 | 6,231.17 |
Reserves | 32,972.39 | 31,946.02 |
Equity of stockholders of the parent | 39,203.56 | 38,177.19 |
Non-controlling interests | 0.61 | 0.58 |
Total equity | 39,204.17 | 38,177.77 |
Provisions for pensions and similar obligations | 217.78 | 215.12 |
Lease liabilities | 959.90 | 1,117.89 |
Provisions for decommissioning and restoration obligations | 9,790.25 | 9,971.13 |
Other provisions | 903.29 | 884.65 |
Other financial liabilities | 185.54 | 132.23 |
Other liabilities | 45.25 | 45.66 |
Deferred tax liabilities | 12.86 | 14.22 |
Non-current liabilities | 12,114.87 | 12,380.90 |
Trade payables | 5,753.38 | 5,351.58 |
Interest-bearing debts | - | 31.65 |
Lease liabilities | 878.54 | 876.56 |
Income tax liabilities | 460.04 | 234.15 |
Other provisions and decommissioning | 1,046.97 | 1,567.61 |
Other financial liabilities | 1,205.82 | 891.26 |
Other liabilities | 1,242.48 | 1,262.14 |
Current liabilities | 10,587.23 | 10,214.95 |
Total equity and liabilities | 61,906.27 | 60,773.62 |
Interim condensed consolidated statement of changes in equity (unaudited)
in RON mn | Share capital | Revenue reserves | Other reserves1 | Treasury shares | Equity of stockholders of the parent | Non-controlling interests | Total equity |
January 1, 2026 | 6,231.17 | 31,818.12 | 127.92 | (0.02) | 38,177.19 | 0.58 | 38,177.77 |
Net income/(loss) for the period | - | 1,028.08 | - | - | 1,028.08 | 0.03 | 1,028.11 |
Other comprehensive income/(loss) for the period | - | - | (1.71) | - | (1.71) | - | (1.71) |
Total comprehensive income/(loss) for the period | - | 1,028.08 | (1.71) | - | 1,026.37 | 0.03 | 1,026.40 |
March 31, 2026 | 6,231.17 | 32,846.20 | 126.21 | (0.02) | 39,203.56 | 0.61 | 39,204.17 |
in RON mn | Share capital | Revenue reserves | Other reserves1 | Treasury shares | Equity of stockholders of the parent | Non-controlling interests | Total equity |
January 1, 2025 | 6,231.17 | 32,778.84 | 107.88 | (0.02) | 39,117.87 | 0.56 | 39,118.43 |
Net income/(loss) for the period | - | 1,069.59 | - | - | 1,069.59 | 0.02 | 1,069.61 |
Other comprehensive income/(loss) for the period | - | - | (0.06) | - | (0.06) | - | (0.06) |
Total comprehensive income/(loss) for the period | - | 1,069.59 | (0.06) | - | 1,069.53 | 0.02 | 1,069.55 |
March 31, 2025 | 6,231.17 | 33,848.43 | 107.82 | (0.02) | 40,187.40 | 0.58 | 40,187.98 |
1 Other reserves contain mainly currency translation differences and reserves from business combinations in stages.
Interim condensed consolidated statement of cash flows (unaudited)
Q1/26 | Q4/25 | Q1/25 | in RON mn | 2025 |
1,255.19 | (497.43) | 1,271.82 | Profit/(loss) before tax | 3,565.79 |
(105.04) | (124.38) | (184.16) | Interest income | (1,250.65) |
17.61 | 17.93 | 12.96 | Interest expenses and other financial expenses | 69.00 |
308.36 | 1,093.21 | 118.91 | Net change in provisions | 1,776.59 |
4.01 | 0.52 | 0.84 | Net (income)/loss from equity-accounted investments | 8.00 |
(3.30) | 2.07 | (2.77) | Net (gains)/losses on the disposal of subsidiaries, businesses and non-current assets | (4.43) |
940.87 | 1,570.97 | 843.09 | Depreciation, amortization and impairments including write-ups | 4,295.67 |
556.12 | (399.92) | 13.01 | Other adjustments | (601.37) |
103.96 | 414.66 | 155.63 | Interest received | 1,207.71 |
(16.40) | (21.82) | (9.30) | Interest and other financial costs paid | (57.91) |
(3.79) | (293.23) | (1.60) | Tax on profit paid | (775.43) |
3,057.59 | 1,762.58 | 2,218.43 | Cash generated from operating activities before working capital movements | 8,232.97 |
(269.68) | 311.28 | (199.69) | (Increase)/decrease in inventories | (154.94) |
(488.68) | (603.63) | 75.52 | (Increase)/decrease in receivables and other assets | 113.36 |
354.41 | 664.15 | 569.51 | Increase/(decrease) in liabilities | 809.01 |
(403.95) | 371.80 | 445.34 | Changes in net working capital components | 767.43 |
2,653.64 | 2,134.38 | 2,663.77 | Cash flow from operating activities | 9,000.40 |
Investments | ||||
(1,900.61) | (1,862.47) | (1,361.65) | Intangible assets and property, plant and equipment | (6,780.81) |
(144.98) | (50.81) | (445.36) | Investments, loans and other financial assets | (807.00) |
- | - | (13.47) | Acquisition of subsidiaries and businesses, net of cash acquired | (61.16) |
Divestments and other investing cash inflows | ||||
85.95 | 840.41 | 249.31 | Cash inflows in relation to non-current assets and financial assets | 1,217.30 |
(1,959.64) | (1,072.87) | (1,571.17) | Cash flow from investing activities | (6,431.67) |
(228.05) | (248.28) | (162.81) | Net increase/(decrease) in borrowings | (659.35) |
(59.93) | (1,178.17) | (0.71) | Dividends paid | (3,925.20) |
(287.98) | (1,426.45) | (163.52) | Cash flow from financing activities | (4,584.55) |
2.38 | 0.89 | (2.17) | Effect of exchange rate changes on cash and cash equivalents | (0.80) |
408.40 | (364.05) | 926.91 | Net increase/(decrease) in cash and cash equivalents | (2,016.62) |
7,201.97 | 7,566.02 | 9,218.59 | Cash and cash equivalents at beginning of period | 9,218.59 |
7,610.37 | 7,201.97 | 10,145.50 | Cash and cash equivalents at end of period | 7,201.97 |
694.00 | 1,061.51 | 1,092.60 | Free cash flow | 2,568.73 |
634.07 | (116.66) | 1,091.89 | Free cash flow after dividends | (1,356.47) |
Selected notes to the interim condensed consolidated financial statements as of and for the period ended March 31, 2026 (unaudited)
Legal principles
The unaudited interim condensed consolidated financial statements as of and for the three-month period ended March 31, 2026 (Q1/26) have been prepared in accordance with IAS 34 Interim Financial Reporting.
The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements, and should be read in conjunction with the Group's annual consolidated financial statements as of December 31, 2025.
The interim condensed consolidated financial statements for Q1/26 included in this report are unaudited and an external review by an auditor was not performed.
The interim condensed consolidated financial statements for Q1/26 have been prepared in million RON (RON mn, RON 1,000,000). Accordingly, there may be rounding differences.
In addition to the interim condensed consolidated financial statements, further information on main items affecting the interim condensed consolidated financial statements as of March 31, 2026 is given as part of the description of Group Performance and Business Segments in the Directors' Report.
General accounting policies
The accounting policies in effect on December 31, 2025, remain largely unchanged. The IFRS amendments effective since January 1, 2026, did not have a material effect on the interim condensed consolidated financial statements.
Changes in the consolidated Group structure
Compared with the annual consolidated financial statements as of December 31, 2025, there were no changes in the consolidated Group.
The detailed structure of the consolidated companies in OMV Petrom Group at March 31, 2026 is presented in Appendix 1 to the current report.
Seasonality and cyclicality
Seasonality is of particular significance in Refining and Marketing and Gas and Power.
Consumption of natural gas, electricity and certain oil products is seasonal and is significantly affected by climatic conditions. Natural gas consumption is higher during the cold winter months. Electricity consumption is also generally higher during the winter, as a supplementary measure to produce heat, as well as due to fewer daylight hours and the need for more artificial lighting. In addition, during very hot summer periods, the increased usage of air cooling systems can also significantly increase electricity consumption. Natural gas sales and electricity generation may also be significantly affected by climatic conditions, such as unusually hot or cold temperatures. Consequently, the results reflect the seasonal character of the demand for natural gas and electricity, and may be influenced by variations in climatic conditions.
Accordingly, the results of operations of the Gas and Power business segment and, to a lesser extent, the Refining and Marketing business segment, as well as the comparability of results over different periods, may be affected by changes in weather conditions and comparison might be of limited relevance.
For details, please refer to the section "Business Segments".
Exchange rates
OMV Petrom uses the National Bank of Romania (NBR) exchange rates in its consolidation process. Income statements of foreign subsidiaries are translated to RON using the average of daily exchange rates published by NBR, detailed below.
Statements of the financial position of foreign subsidiaries are translated to RON using the closing rate method based on exchange rates published by NBR, and are detailed below.
Q1/26 | Q4/25 | Q1/25 | Δ%1 | NBR FX rates | 2025 |
5.094 | 5.088 | 4.976 | 2 | Average EUR/RON | 5.043 |
4.354 | 4.373 | 4.726 | (8) | Average USD/RON | 4.464 |
5.099 | 5.099 | 4.977 | 2 | Closing EUR/RON | 5.099 |
4.446 | 4.342 | 4.601 | (3) | Closing USD/RON | 4.342 |
1 Q1/26 vs. Q1/25
Notes to the income statement
Sales revenues
in RON mn | Q1/26 | Q1/25 |
Revenues from contracts with customers | 10,243.56 | 8,919.43 |
Revenues from other sources | (669.28) | 33.87 |
Total sales revenues | 9,574.28 | 8,953.30 |
Revenues from other sources contain mainly the impact from fair valuation of derivative hedge contracts related to sales, as well as rental and lease revenues.
Revenues from contracts with customers
in RON mn | Q1/26 | ||||
Exploration and Production | Refining and Marketing | Gas and Power | Corporate and Other | Total | |
Crude oil and NGL | - | 2.17 | - | - | 2.17 |
Natural gas, LNG and power | 3.46 | 26.13 | 4,102.71 | - | 4,132.30 |
Fuels and heating oil | - | 4,984.91 | - | - | 4,984.91 |
Other petroleum products | - | 412.61 | - | - | 412.61 |
Other goods and services | 7.84 | 657.42 | 39.99 | 6.32 | 711.57 |
Total | 11.30 | 6,083.24 | 4,142.70 | 6.32 | 10,243.56 |
in RON mn | Q1/25 | ||||
Exploration and Production | Refining and Marketing | Gas and Power | Corporate and Other | Total | |
Crude oil and NGL | - | 7.55 | - | - | 7.55 |
Natural gas, LNG and power | 3.83 | 26.35 | 3,237.03 | 0.99 | 3,268.20 |
Fuels and heating oil | - | 4,568.90 | - | - | 4,568.90 |
Other petroleum products | - | 370.98 | - | - | 370.98 |
Other goods and services | 7.07 | 672.84 | 18.69 | 5.20 | 703.80 |
Total | 10.90 | 5,646.62 | 3,255.72 | 6.19 | 8,919.43 |
Income tax
Q1/26 | Q4/25 | Q1/25 | in RON mn | 2025 |
227.08 | (122.37) | 202.21 | Taxes on income - expense/(revenue) | 507.62 |
241.57 | 227.26 | 213.16 | Current taxes | 870.87 |
(14.49) | (349.63) | (10.95) | Deferred taxes | (363.25) |
18% | 25% | 16% | Group effective tax rate | 14% |
Notes to the statement of financial position
Equity
At the Annual General Meeting of Shareholders held on April 28, 2026, the shareholders of OMV Petrom S.A. approved the distribution of gross dividends of RON 3,601.60 mn (gross total dividend per share of RON 0.0578, out of which RON 0.0466 as gross base dividend per share and RON 0.0112 as gross special dividend per share).
The total number of own shares held by the Company as of March 31, 2026 amounted to 204,776 (December 31, 2025: 204,776).
Fair value measurement
Financial instruments recognized at fair value are disclosed according to the fair value measurement hierarchy as stated in Note 33 of the Group's annual consolidated financial statements as of December 31, 2025.
March 31, 2026 | December 31, 2025 | |||||||
Fair value hierarchy of financial assets (in RON mn) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
Trade receivables | - | 8.65 | - | 8.65 | - | - | - | - |
Equity investments | - | 22.14 | 13.78 | 35.92 | - | 22.14 | 13.78 | 35.92 |
Derivatives valued at fair value through profit or loss | 112.59 | 674.52 | - | 787.11 | - | 748.60 | - | 748.60 |
Total | 112.59 | 705.31 | 13.78 | 831.68 | - | 770.74 | 13.78 | 784.52 |
March 31, 2026 | December 31, 2025 | |||||||
Fair value hierarchy of financial liabilities (in RON mn) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
Derivatives valued at fair value through profit or loss | - | (889.62) | - | (889.62) | - | (346.45) | - | (346.45) |
Other financial liabilities | - | - | (42.34) | (42.34) | - | - | (42.34) | (42.34) |
Total | - | (889.62) | (42.34) | (931.96) | - | (346.45) | (42.34) | (388.79) |
The carrying amount of financial assets and financial liabilities valued at amortized cost approximates their fair value.
Segment reporting
Intersegmental sales
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
2,429.40 | 2,089.73 | 2,814.91 | (14) | Exploration and Production | 9,187.44 |
47.28 | 39.24 | 32.36 | 46 | Refining and Marketing | 147.92 |
138.95 | 103.57 | 138.05 | 1 | Gas and Power | 410.17 |
62.17 | 64.69 | 63.75 | (2) | Corporate and Other | 248.64 |
2,677.80 | 2,297.23 | 3,049.07 | (12) | Total | 9,994.17 |
1 Q1/26 vs. Q1/25
Sales to third parties
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
12.94 | 12.76 | 12.50 | 4 | Exploration and Production | 50.81 |
6,026.35 | 5,960.64 | 5,658.47 | 7 | Refining and Marketing | 24,194.29 |
3,525.20 | 3,771.53 | 3,272.41 | 8 | Gas and Power | 12,302.35 |
9.79 | 10.92 | 9.92 | (1) | Corporate and Other | 44.42 |
9,574.28 | 9,755.85 | 8,953.30 | 7 | Total | 36,591.87 |
1 Q1/26 vs. Q1/25
Total sales (not consolidated)
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
2,442.34 | 2,102.49 | 2,827.41 | (14) | Exploration and Production | 9,238.25 |
6,073.63 | 5,999.88 | 5,690.83 | 7 | Refining and Marketing | 24,342.21 |
3,664.15 | 3,875.10 | 3,410.46 | 7 | Gas and Power | 12,712.52 |
71.96 | 75.61 | 73.67 | (2) | Corporate and Other | 293.06 |
12,252.08 | 12,053.08 | 12,002.37 | 2 | Total | 46,586.04 |
1 Q1/26 vs. Q1/25
Segment and Group profit
Q1/26 | Q4/25 | Q1/25 | Δ%1 | in RON mn | 2025 |
632.49 | (1,889.23) | 789.96 | (20) | Operating Result Exploration and Production | (297.17) |
692.17 | 641.90 | 409.11 | 69 | Operating Result Refining and Marketing | 2,280.10 |
83.90 | 583.67 | (104.34) | n.m. | Operating Result Gas and Power | 569.96 |
(36.38) | (30.32) | (28.32) | (28) | Operating Result Corporate and Other | (116.36) |
1,372.18 | (693.98) | 1,066.41 | 29 | Operating Result segment total | 2,436.53 |
(28.69) | 107.37 | 175.76 | n.m. | Consolidation | 319.32 |
1,343.49 | (586.61) | 1,242.17 | 8 | OMV Petrom Group Operating Result | 2,755.85 |
(88.30) | 89.18 | 29.65 | n.m. | Net financial result | 809.94 |
1,255.19 | (497.43) | 1,271.82 | (1) | OMV Petrom Group Profit/(Loss) before tax | 3,565.79 |
1 Q1/26 vs. Q1/25
Assets1
in RON mn | March 31, 2026 | December 31, 2025 |
Exploration and Production | 27,219.50 | 26,962.57 |
Refining and Marketing | 8,951.53 | 8,806.17 |
Gas and Power | 2,104.20 | 2,001.92 |
Corporate and Other | 450.52 | 468.45 |
Total | 38,725.75 | 38,239.11 |
1 Segment assets consist of intangible assets and property, plant and equipment.
Other notes
Significant transactions with related parties
Significant transactions in form of supplies of goods and services take place on a constant and regular basis with companies from OMV Group. The most significant are disclosed in the Appendix 2.
Financial Ratios (presented in accordance with the requirements of the Financial Supervisory Authority's
Regulation no. 5/2018 on issuers of financial instruments and market operations)
Financial Ratio Formula ValueCurrent ratio Current Assets / Current Liabilities 1.71
Interest-bearing debts (long term)/ Equity *100 -
Indebtness Ratio (%)
Interest-bearing debts (long term)/ (Interest-bearing debts (long term) + Equity) *100 -
Days in receivables Receivables average balance / Turnover*90 27.64
Fixed assets turnover1 Turnover / Fixed assets 0.99
1 Fixed assets turnover is calculated based on turnover for Q1/26*(360/90) days
Subsequent events
On April 28, 2026, the Ordinary General Meeting of Shareholders (OGMS) approved the 2026 Income and Expenditure Budget of OMV Petrom S.A. with investments estimated at around RON 9 bn.
The OGMS approved the distribution of base dividends for the financial year 2025 for the gross amount of RON 2,904 mn (gross base dividend per share of RON 0.0466) as well as distribution of special dividends for the gross amount of RON 698 mn (gross special dividend per share of RON 0.0112).
The OGMS also approved the reappointment of KPMG Audit S.R.L. as the Company's financial auditor for 2026.
Declaration of the management
We confirm to the best of our knowledge that the unaudited interim condensed consolidated financial statements with selected notes for the three month period ended March 31, 2026 give a true and fair view of OMV Petrom Group's assets, liabilities, financial position and profit or loss, as required by the applicable accounting standards, and that the Group Directors' Report gives a true and fair view of important events that have occurred during the first three months of the financial year 2026 and their impact on the interim condensed consolidated financial statements, as well as a description of the principal risks and uncertainties.
Bucharest, April 30, 2026 The Executive Board Christina Verchere Alina Popa Chief Executive Officer Chief Financial Officer President of the Executive Board Member of the Executive BoardCristian Hubati | Franck Neel | Radu Caprau |
Member of the Executive Board | Member of the Executive Board | Member of the Executive Board |
Exploration and Production | Gas and Power | Refining and Marketing |
Further information
Abbreviation and definitions
bbl barrel(s), i.e. 159 liters
bcf billion cubic feet; 1 bcm = 35.3147 bcf for Romania or 34.7793 bcf for Kazakhstan boe; kboe; kboe/d barrels of oil equivalent; thousand barrels of oil equivalent; kboe per day
bn billion
bcm billion cubic meters
BRM Romanian Commodities Exchange
Capital employed equity including minorities plus net debt/(cash) CEO Chief Executive Officer
Co&O Corporate and Other
CAPEX Capital expenditure
Operating Result adjusted for special items and CCS effects. Group clean CCS Operating Result is
Clean CCS Operating Result
Clean CCS net income attributable to
stockholders of the parent
calculated by adding the clean CCS Operating Result of Refining and Marketing, the clean Operating Result of the other segments and the reported consolidation effect adjusted for changes in valuation allowances, in case the net realizable value of the inventory is lower than its cost.
Net income attributable to stockholders of the parent, adjusted for the after tax effect of special items and CCS
Clean CCS EPS Clean CCS Earnings per share = Clean CCS net income attributable to stockholders of the parent divided by weighted number of shares
Clean CCS Return On Average Capital Employed = NOPAT (as a sum of current and last three quarters)
Clean CCS ROACE
Clean effective tax rate
adjusted for the after tax effect of special items and CCS, divided by average Capital Employed (on a rolling basis, as an average of last four quarters) (%)
Taxes on income adjusted for the tax effect of special items and CCS, divided by Clean CCS Profit before tax (%)
EOR Enhanced Oil Recovery
EPS Earnings per share = Net income attributable to stockholders of the parent divided by weighted number of shares
Effective tax rate Taxes on income divided by Profit before tax (%) EUR euro
E&A Exploration and appraisal
FX Foreign Exchange
HSSE Health, Safety, Security and Environment
GEO Government Emergency Ordinance
IFRSs; IASs International Financial Reporting Standards; International Accounting Standards LNG Liquified natural gas
mn million
MWh megawatt hour
NBR National Bank of Romania
Net debt/(cash) including leases
Net debt/(cash) excluding leases
Interest-bearing debts plus lease liabilities less cash and cash equivalents
Interest-bearing debts less cash and cash equivalents
NGL Natural Gas Liquids
n.a. not applicable/not available (as the case may be)
n.m. not meaningful i.e. deviation exceeds (+/-) 500% or comparison is made between positive and negative values
NOPAT Net Operating Profit After Tax =Net income attributable to stockholders of the parent, adjusted for net interest on net borrowings, +/- result from discontinued operations, +/- tax effect of adjustments
OPCOM The administrator of the Romanian electricity market
Operating Result The "Operating result" includes the former indicator EBIT ("Earnings Before Interest and Taxes") and the net
result from equity-accounted investments.
Clean Operating Result before depreciation and amortization, impairments and write-ups
Former EBITD adjusted for special items and CCS effects = Operating Result Before Interest, Taxes, Depreciation and amortization, impairments and write-ups of fixed assets, including reversals adjusted for special items and CCS effects
OPEX Operating Expenses
Q quarter
ROACE Return On Average Capital Employed = NOPAT (as a sum of current and last three quarters) divided by average Capital Employed (on a rolling basis, as an average of last four quarters) (%)
RON Romanian leu
S.A.; S.R.L. Societate pe Actiuni (Joint-stock company); Societate cu Raspundere Limitata (Limited liability company) t metric tonne(s)
TWh terawatt hour
USD United States dollar
yoy year-on-year
Appendix 1
Consolidated companies in OMV Petrom Group at March 31, 2026
Parent company | |||
OMV Petrom S.A. | |||
Subsidiaries | |||
Exploration and Production | Refining and Marketing | ||
OMV Offshore Bulgaria GmbH (Austria) | 100.00% | OMV Petrom Marketing S.R.L. | 100.00% |
OMV Petrom E&P Bulgaria S.R.L. | 100.00% | OMV Petrom Aviation S.R.L.1 | 100.00% |
OMV Petrom Energy Solutions S.R.L. | 100.00% | Petrom Moldova S.R.L. (Moldova) | 100.00% |
OPM E-Charge S.R.L.2 | 100.00% | ||
OMV Bulgaria OOD (Bulgaria) | 99.90% | ||
OMV Srbija DOO (Serbia) | 99.96% | ||
Gas and Power | Corporate and Other | ||
JR Solar Teleorman S.R.L. | 100.00% | Petromed Solutions S.R.L. | 100.00% |
JR Constanta S.R.L. | 100.00% | ||
JR Teleorman S.R.L. | 100.00% | ||
Bridgeconstruct S.R.L. | 100.00% | ||
ATS Energy S.R.L. | 100.00% | ||
Intertrans Karla S.R.L. | 100.00% | ||
OMV Gas Marketing & Trading Hungaria Kft. | 100.00% | ||
(Hungary) | |||
1 (one) equity interest owned through OMV Petrom Marketing S.R.L. | |||
2 Former Renovatio Asset Management S.R.L. | |||
Incorporated joint operations3 | |||
Gas and Power | |||
S. Parc Fotovoltaic Isalnita S.A. | 50.00% | ||
S. Parc Fotovoltaic Rovinari Est S.A. | 50.00% | ||
S. Parc Fotovoltaic Tismana 1 S.A. | 50.00% | ||
S. Solarist Tismana 2 S.A. | 50.00% | ||
3 Joint operations structured through separate legal entities; accounted for as OMV Petrom's share of assets, liabilities, income and expenses held or incurred jointly. | |||
Equity-accounted investments | |||
Refining and Marketing Corporate and Other | |||
Respira Verde S.R.L 41.86% OMV Petrom Global Solutions S.R.L. | 25.00% | ||
Gas and Power | |||
Electrocentrale Borzesti S.R.L. 50.00% | |||
Enerintens Solar S.R.L. 50.00% | |||
Tenersolar Park S.R.L. 50.00% | |||
Cil PV Plant S.R.L. 50.00% | |||
Dunav Solar Plant OOD (Bulgaria) 50.00% | |||
Appendices 1 and 2 form part of the interim unaudited condensed consolidated financial statements.
Appendix 2
Significant transactions with related parties
During the first three months of the financial year 2026, OMV Petrom Group had the following significant transactions with related parties and balances as of March 31, 2026:
Related party (in RON mn) | Purchases | Balances payable |
Q1/26 | March 31, 2026 | |
OMV Petrom Global Solutions S.R.L. | 186.87 | 286.10 |
OMV Downstream GmbH | 77.32 | 63.99 |
OMV Gas Marketing & Trading GmbH | 35.96 | 12.79 |
OMV - International Services Ges.m.b.H. | 1.46 | 110.03 |
Related party (in RON mn) | Revenues | Balances receivable |
Q1/26 | March 31, 2026 | |
OMV Deutschland Marketing & Trading GmbH & Co. KG | 51.79 | 22.24 |
OMV Gas Marketing & Trading GmbH | 46.13 | 22.52 |
OMV Downstream GmbH | 22.27 | 26.72 |
OMV - International Services Ges.m.b.H. | 0.02 | 33.26 |
Further information on related parties can be found in the OMV Petrom consolidated financial statements for the year ended December 31, 2025 (Note 30 "Related parties"). Loans receivable by OMV Petrom from Electrocentrale Borzesti S.R.L. amounted to RON 358 mn as of March 31, 2026 (December 31, 2025: RON 282 mn), reflecting further drawings during the reported period.
During the first three months of the financial year 2025, OMV Petrom Group had the following significant transactions with related parties and balances as of December 31, 2025:
Related party (in RON mn) | Purchases | Balances payable |
Q1/25 | December 31, 2025 | |
OMV Supply & Trading Limited | 251.28 | 2.31 |
OMV Petrom Global Solutions S.R.L. | 206.83 | 176.97 |
OMV Downstream GmbH | 73.99 | 111.17 |
OMV Gas Marketing & Trading GmbH | 58.49 | 82.00 |
OMV - International Services Ges.m.b.H. | 4.35 | 84.70 |
Related party (in RON mn) | Revenues | Balances receivable |
Q1/25 | December 31, 2025 | |
OMV Deutschland Marketing & Trading GmbH & Co. KG | 91.86 | 18.83 |
OMV Downstream GmbH | 16.67 | 7.27 |
OMV Gas Marketing & Trading GmbH | 9.86 | - |
OMV - International Services Ges.m.b.H. | 0.01 | 25.94 |
Appendices 1 and 2 form part of the interim unaudited condensed consolidated financial statements.
Contact
OMV Petrom Investor Relations
Tel: +40 372 161930; Fax: +40 21 30 68518
E-mail address: investor.relations.petrom@petrom.com