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OMV Petrom (SNP) investor relations material
OMV Petrom Q2 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 2026 saw a significant rise in Brent crude prices, reaching $103.85/bbl, up from $81.13/bbl in Q1 2026 and $67.88/bbl in Q2 2025.
Hydrocarbon production remained stable at 102.3 kboe/d, with a slight decrease in crude oil and NGL output compared to prior quarters.
Clean Operating Result in Exploration & Production benefited from higher prices but was offset by increased taxes and a new temporary solidarity tax.
Refining and Marketing margins improved, but domestic margin caps limited upside from higher product cracks.
Financial highlights
Average realized crude price rose to $92.72/bbl in Q2 2026, up from $70.77/bbl in Q1 2026 and $58.72/bbl in Q2 2025.
Indicator refining margin surged to $22.67/bbl, compared to $14.31/bbl in Q1 2026 and $10.27/bbl in Q2 2025.
Total hydrocarbon sales volume was 97.2 kboe/d, slightly down from 99.6 kboe/d in Q1 2026.
Gas sales volumes to third parties were 8.89 TWh, down from 12.44 TWh in Q1 2026.
Outlook and guidance
E&P Clean Operating Result expected to benefit from higher prices, but gains are reduced by new taxes and temporary solidarity tax.
Refining and Marketing margins expected to remain slightly below 2025 average due to margin caps.
Gas and Power Clean Operating Result anticipated to be slightly negative due to Brazi power plant shutdown and high third-party gas prices.
- Q4 2024 profit and cash flow fell sharply as investments and regulatory risks increased.SNP
Q4 20248 Jul 2026 - Q1 2025 profits fell on lower oil prices and regulation, but strategic investments accelerated.SNP
Q1 20258 Jul 2026 - Clean CCS operating profit fell 16% year on year as net income and investments increased.SNP
Q3 20258 Jul 2026 - Q2 2025 results showed resilient operations, strong cash flow, and high investment amid market volatility.SNP
Q2 20258 Jul 2026 - Clean CCS Operating Result fell 36% as renewables and capex surged amid regulatory headwinds.SNP
Q3 20248 Jul 2026 - Q1 2026 saw resilient financials, strong segment growth, and major progress on renewables and Neptun Deep.SNP
Q1 202630 Apr 2026 - Q4 2025 Clean CCS Operating Result rose 41%, but net income was hit by E&P impairments.SNP
Q4 202517 Apr 2026 - Higher Brent prices and gas sales offset lower hydrocarbon production in Q1 2026.SNP
Q1 2026 TU9 Apr 2026 - Strategy 2030 accelerates renewables, Neptun Deep, and dividends, targeting net zero by 2050.SNP
CMD 20243 Feb 2026
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