OMV Petrom posts higher quarterly profit on gas, refining strength; ups 2026 oil price outlook

OMV Petrom SA

30/04/2026 07:00

April 30 (Reuters) - Romania's OMV Petrom ROSNP.BX posted a rise in first-quarter net profit on Thursday, helped by strong gas and power results and higher refining margins, and raised its 2026 oil price assumptions amid Middle East-driven market volatility.

The group said higher investments and government interventions will weigh on cash flow this year despite improved operating performance.

Net profit attributable to shareholders rose 5% year-on-year to 1.13 billion lei ($258.20 million) (on a clean current cost of supply basis)

Sales revenues rose 7% to 9.6 billion lei

Sees Brent crude at $85–$95/bbl in 2026, higher than the prior guidance of around $65/bbl

Expects refining margins above $10/bbl, though capped temporarily by Romanian government measures

Said that Romanian fuel margin caps and a new solidarity contribution will limit upside in Q2

($1 = 4.3765 lei)

 (Reporting by Antonis Pothitos; Editing by Subhranshu Sahu)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))