OMV Petrom, the largest integrated energy producer in South-Eastern Europe, announces the discovery of a new natural gas field in Spineni, located approximately 70 km northeast of Craiova. The gas will be exploited. The Spineni 1 exploration well, drilled to a depth of approximately 4,800 meters, confirmed the presence of natural gas and condensate, the […]
OMV Petrom SA has signed a supply contract with Astra Bioplants Ltd for the purchase of pre-treated used oil, the energy company said in a statement. The contract is for a period of five years, with the possibility of extension for another three years, with deliveries to begin in 2028. The pre-treated used oil is […]
OMV Petrom, one of the two companies that will extract gas from the Neptun Deep area in the Black Sea, will deliver part of it to the state supplier of the Republic of Moldova, Energocom, according to a statement from the Ministry of Energy. The signed contract provides for the supply of natural gas for […]
Shell Exploration and Production (96) BV, a subsidiary of Shell PLC, will explore for oil and gas in Block 1-26 Han Tervel, located in Bulgaria’s exclusive economic zone in the Black Sea, according to media reports. The contract has been signed. The block is adjacent to Han Asparuh, which is licensed by OMV Petrom. The […]
OMV Petrom and Romgaz have started drilling for the development and exploitation of the Pelican Sud and Domino natural gas fields in the Neptun Deep perimeter, located 160 km offshore the Black Sea. According to a press release submitted on Tuesday, AGERPRES, the project is progressing according to plan, with the first production estimated for […]
As such, OMV Petrom has chosen to purchase energy in the forward market in order to have something to honor, at least partially, its electricity delivery contracts for the period in which its power plant is shut down for maintenance. Last week, on Thursday and Friday, Petrom purchased, through several contracts concluded on the bilateral […]
The heads of OMV and OMV Petrom had a meeting today at Cotroceni Palace with interim President Ilie Bolojan. Here is the full press release from the Presidential Administration: The interim President of Romania, Ilie Bolojan, received on Monday, March 17, 2025, at Cotroceni Palace, a delegation of OMV Petrom, consisting of members of the […]
A delegation from OMV and OMV Petrom held talks today with Prime Minister Ciolacu and interim President Bolojan. The Presidency issued a statement after the meeting, but not the Government, but we managed to find out, from sources close to the situation, what was the main topic of discussion. Gas taxation was the dominant topic […]
OMV Petrom, the largest integrated energy producer in Southeastern Europe, announces the completion of the transfer of a stake between its subsidiary OMV Offshore Bulgaria and NewMed Energy Balkan, a subsidiary of NewMed Energy, a press release from the Romanian company shows. Following the completion of the transaction, the two partners hold equal stakes in […]
OMV Petrom, the largest integrated energy producer in Southeastern Europe announces the start of construction for a sustainable aviation fuel (SAF) and renewable diesel (HVO) production unit at the Petrobrazi refinery. This new facility will position OMV Petrom as the first major producer of sustainable fuels in the Southeast Europe, with an annual capacity of 250,000 […]
“The energy transition is happening,” the CEO of the largest energy company in Southeast Europe said clearly. Petrom will not change its investment approach for now after last year updating its strategy to focus on going even greener. This is despite the fact that European giants like Shell, BP or Equinor seem to be doing […]
The higher the tax, the more investments are disadvantaged, and we need a stable, predictable and competitive fiscal and regulatory framework – is the message of the energy company that will invest 8 billion lei this year after the 7 billion invested last year. “Regarding the construction tax, it is very difficult to estimate the […]
OMV Petrom Group posted a net profit increase of 4% last year, to 4.2 billion lei, but the operating result CCA excluding special items decreased by 52%, to 5.7 billion lei, amid lower commodity prices and a negative impact of the regulatory environment on the gas and power activity. According to a press release from […]
An 85 MW wind farm project in the Moldovan region is set to receive a construction permit from the Energy Regulatory Authority, one of the last pieces of paperwork required before construction can begin. “Draft decision and report on the granting of the Construction Permit requested by BORZEȘTI WIND SRL for the construction of the […]
