OMV Petrom’s net profit last year was 10.3 billion lei, a 260% increase from the previous year, when it earned only 2.86 billion lei. In a report published on the website of the Bucharest Stock Exchange (BVB), the company says it does not plan to pay the solidarity tax introduced by the government (EOG 186/2022).

• Profit in euros is about 2.1 billion euros, almost double the previous record of 1.1 billion euros in 2013, according to Profit.ro.

“Based on OMV Petrom’s previous financial results for 2022 and the provisions of this emergency order, it is expected that OMV Petrom will not be subject to this solidarity contribution for the 2022 financial year with less than 75% of its turnover in the designated sectors. : production of crude oil, production of natural gas, production of oil and production of oil refining products,” the document states.

In 2022, OMV Petrom has already contributed through royalties, additional taxes and other industry-specific contributions of approximately 7.3 billion lei, in addition to income tax of 2.2 billion lei, according to the cited source.

Overall, the company says, industry taxes have increased by about 4 times compared to 2021.

The company notes that the decree must be submitted for approval in the parliament, so changes may be made to it.

Thus, new regulatory and tax interventions may affect OMV Petrom’s financial results.

Since the authorities did not know how to apply the Decree and whether OMV should pay the tax, the Ministry of Finance asked the European Commission for clarification.

The European executive has stated that the threshold of 75% of turnover in the taxable sectors (crude oil production, natural gas production, oil production and production of refined products) cannot be lowered.

CEO of OMV Petrom: Contribution to the state budget through taxes and dividends reached a record level of 20 billion lei

Cristina Vercere, CEO of OMV Petrom, said that OMV Petrom’s revenues are a solid basis for contributing to the Romanian economy and the Romanian energy sector.

“The net profit was 10 billion lei, while the contribution to the state budget through taxes and dividends reached a record level of 20 billion lei. The tax increase was mainly due to industry-specific taxes and contributions, totaling more than 7 billion lei,” she said.

He also stated that they will continue to achieve the goals of the 2030 Strategy, which aims to support the energy transition in Romania by offering new and clean energy solutions to the market.

“In 2023, the investment will almost double to 6 billion lei, which is equivalent to approximately 60% of the net profit in 2022. Neptun Deep is at the center of our strategy, and we will focus on bringing the project closer to the final investment decision planned for mid-2023,” said Khrystyna Verchere.

According to the financial results, investments amounted to 3.551 billion lei in 2022, which is 26% more than in 2021 (2.821 billion lei), especially focused on exploration and production with investments worth 2.559 billion lei (2021: 2.025 billion lei). Investments in oil refining and marketing amounted to 835 million lei (2021: 766 million lei), while investments in gas and energy amounted to 97 million lei (2021: 12 million lei). Investments in the corporate and other segments amounted to 60 million lei (2021: 18 million lei).