Energy | 23 March, 2026 at 10:36 AM
Romania to declare emergency on fuel market
Romania will declare an emergency situation on the fuel market following a working group meeting convened by PM Ilie Bolojan to address surging costs.
Romania will declare an emergency situation on the fuel market following a working group meeting convened by PM Ilie Bolojan to address surging costs.
Following recent checks, Romania's Energy Ministry manages emergency oil stocks exceeding 2 million tonnes oil equivalent, according to an official statement.
Rompetrol Rafinare will halt operations at its Petromidia Năvodari and Vega Ploiești refineries in early March for a scheduled technological turnaround lasting approximately 20 days.
MOL Group disclosed its financial results for 2025, showing profit before tax of $1.3 billion, representing an 11% decrease compared to 2024. The Hungarian energy company faced a challenging macroeconomic environment, but strong downstream and consumer services results supported overall profitability.
The Romanian Ministry of Energy has initiated a draft government decision to place all local entities owned by the Russian group Lukoil under extended supervision.
Oil major OMV Petrom closed 2025 with a net profit of approximately €620 million, down 27% compared to the previous year.
Russian oil major Lukoil has signed an agreement with US investment firm Carlyle for the sale of Lukoil International.
Bulgarian Energy Holding (BEH) has entered the Han Asparuh offshore exploration joint venture in the Bulgarian Black Sea with a 10% interest.
Oil major OMV Petrom is progressing with its Neptun Deep development project, expecting first gas production in 2027 with estimated investments of up to €4 billion.
MOL Group has announced its financial results for Q3 2025, achieving a $503 million profit before tax, which remained flat year-on-year.
OMV Petrom recorded a 13% decrease in its net profit over the first nine months of the year. Net profit fell to RON 3.4 billion (€668.4 million), while organic investments saw a 28% increase,
Romania's crude oil production reached 1.46 million tonnes of oil equivalent (toe) in the first seven months of this year, a decrease of 119,600 toe (7.6%).
MOL Group reported a profit before tax of $236 million in the second quarter of 2025, marking a 56% year-on-year decrease. The company's performance was impacted by a slowing regional macroeconomic environment.
MOL Group continues to diversify its oil supply sources by importing 85,000 tonnes of CPC oil and signing a commercial agreement with KazMunayGas (KMG).
The Romanian Minister of Energy, Bogdan Ivan, said that the country's supply of fuels is stable and continuous, despite OMV Petrom's issues.
OMV Petrom registered a net profit of RON 2.08 billion (€419.7 million) in H1 2025, a 21% decrease compared to RON 2.62 billion (€528.2 million) in the same period last year.
Romania's National Energy Regulatory Authority (ANRE) has granted the establishment authorization for the upstream supply pipelines essential for natural gas production.
Oil major OMV Petrom and NewMed Energy Balkan have signed a rig contract for drilling two offshore exploration wells in the Bulgarian Black Sea.
OMV Petrom recorded a hydrocarbon production of 102,200 barrels of oil equivalent (boe) per day in Q2 2025.
Oil major OMV Petrom has announced a significant natural gas discovery in Spineni, approximately 70 km north-east of Craiova, southern Romania.
Premier Energy has signed an agreement to acquire Distribuție Energie Oltenia (DEO) from funds managed by Macquarie Asset Management for approximately €700 million.
Grup Șerban Holding announced that its subsidiary Interagroaliment has filed for insolvency proceedings on April 15, 2026, due to financial difficulties.
Romania recorded the highest annual inflation rate in the European Union in March 2026, reaching a peak of 9.0%.
The European Commission has opened an in-depth investigation into Romania's planned state support for refurbishing the Cernavoda 1 nuclear reactor, questioning whether the €3.2 billion aid package complies with EU state aid rules.
Vastint Romania, part of Vastint Group, has signed the first lease agreement for the second phase of Timpuri Noi Square (TNS). Scor, a global reinsurer, has selected the project for its permanent operations in Romania, where it will occupy 3,250 sqm.