The profit was affected by net impairment adjustments of €440 million, mainly related to abandonment obligations under principles agreed between OMV Petrom and the Romanian state, as well as impairment adjustments for exploration and production (E&P) assets.
"2025 was an important year for implementing our 2030 Strategy, a year in which we achieved tangible results for all our strategic projects, supported by investments of approximately €1.56 billion," said Christina Verchere, CEO of OMV Petrom.
The group's current cost of supply (CCS) operating result, excluding special items, was €1.04 billion in 2025, 10% lower than the previous year, mainly influenced by lower oil prices and volumes. In E&P, the operating result excluding special items fell 27% to €435 million, primarily due to lower oil prices and volumes. Production decreased 4% to 104,500 barrels of oil equivalent per day - the second-best result in eight years. Production costs rose 9% to $17.8 per barrel, largely due to external pressures including currency developments and construction taxes.
In Refining and Marketing, the CCS operating result excluding special items remained stable at €491 million. The refining margin indicator increased 35% to $12.4 per barrel in 2025. The refinery utilisation rate fell to 93% from 97% in 2024, reflecting planned shutdowns and crude oil supply challenges. Total refined product sales decreased 5% to 5.5 million tonnes, while retail sales remained at 3.2 million tonnes. The Gas and Power division recorded an operating result of €71 million, similar to 2024 levels, with total natural gas sales growing 12% to 48.3 TWh.
