OMV Petrom reports sales down 6% in the first nine months of 2024

OMV Petrom, Romania's largest company by turnover, reported sales of RON 26.7 billion in the first nine months of 2024, down 6% compared to the same period of the previous year, while net profit increased by 54% to RON 3.9 billion on the back of the elimination of the tax on processed crude oil.

“We continued to transform our activities for a low-carbon future, with investments reflecting the progress of our strategy. We had record investments for January - September, of almost RON 5 billion, of which over 40% are allocated to strategic projects such as Neptun Deep, renewable energy and electro-mobility,” the company said.

In Q3/2024 the company had sales of RON 8.7 billion, down 11%, and a net profit of RON 1.2 billion, down 19%.

The Austrians at OMV have a 51.15% stake while the Romanian state has 20.7% through the Ministry of Energy. Other shareholders include private pension funds Pilon II with almost 14% and other investors from the Bucharest Stock Exchange.