OMV profit surge and refinery outlook 2026

In late July 2026 the Austrian energy group OMV reported a sharp 65 percent increase in its adjusted operating profit, driven by a rebound in Brent crude to around $104 a barrel and higher European gas prices. The rise translated into a €1.71 billion Q2 profit, a dividend of €4.40 per share, and a planned CEO hand‑over to Emma Delaney in September. The company also highlighted the upcoming start of the Neptun Deep gas project in Romania in 2027.

The following day OMV’s Romanian subsidiary, OMV Petrom, disclosed that its Petrobrazi refinery ran at 97 percent capacity, benefitting from Brent above $92 a barrel. Despite strong operating results, the subsidiary’s net profit fell 14 percent to 1.8 billion lei and cash reserves were halved, primarily because of Romanian crisis‑state measures such as fuel‑margin caps, higher effective taxes and a crisis decree. Management said it had secured crude supplies for the near term while it continued to assess the financial impact of the new legislation.