Energy

Romania’s sole oil and gas producer OMV Petrom has commenced construction of a sustainable aviation fuel (SAF) and renewable diesel (HVO) production unit at its Petrobrazi refinery, near Ploiesti City, about 60 km from Bucharest. The project involves a total investment of €750M, with €560M dedicated to the SAF/HVO unit and €190M for two green hydrogen production facilities. The new unit will

Romanian top oil and gas group OMV Petrom, majority-controlled by Austria’s OMV, reported on Tuesday (Oct. 29) sales worth RON26.7 billion in the first nine months of 2024, down 6% on an annual basis. Net profit increased by 54% to RON3.9 billion (EUR789.6) amid the absense of solidarity tax on refined crude oil, which had burdened the prior-year period’s profit by 2.355

Bucharest-listed OMV Petrom, the largest integrated energy company in Southeast Europe, signed a contract for the purchase of natural gas with BOTAŞ, the national oil and gas company of Türkiye. The contract was signed for a period of 18 months, starting October 2023 and allows for the supply of up to 4 million cubic meters per day. “Natural gas is essential for

State-owned Romanian power producer Hidroelectrica’s IPO, which had been under discussion for over a decade, was multiple times oversubscribed and priced slightly above mid-range of the price range. This results in a valuation of above EUR 9.4 billion, making the country’s largest electricity producer’s IPO the largest ever made on the Bucharest Stock Exchange (BVB), the largest in Europe and the third