We entered the period with the most…

♦ Petrom shares are trading at the historical maximum of 0.71 lei, equivalent to a capitalization of 44.5 billion lei, in the context where the results for Q1/2024, announced on Tuesday, were appreciated by investors

OMV Petrom (stock symbol SNP) entered the period with the largest investments in the history of the company in the context of the development of Neptun Deep – the largest natural gas project on the Romanian shore of the Black Sea – and the energy transition, says Christina Verchere, director general of the largest integrated energy producer in South-Eastern Europe.

“We have entered the period with the largest investments in the history of the company with an annual average of 8 billion lei for the next three years”, says Christina Verchere, who leads the company evaluated by investors from the Bucharest Stock Exchange at the historical maximum of 44 .5 billion lei, plus 9 billion lei from the beginning of 2024.

“By 2030, we aim to add five new activities with low carbon emissions: electricity from renewable sources, biofuels, alternative mobility, carbon capture and storage and hydrogen. Combined, they will represent 15% of our EBIT in 2030 and represent about 1/3 of our planned investments of €11 billion by 2030,” she says in an email interview with ZF where she discussed and on the prospect of additional dividends, security risks in the Black Sea and overnight legislative changes.

The CEO of Petrom says that Neptun Deep – the first offshore project in deep waters in Romania with an estimated production equivalent to the annual gas demand for 4.3 million households multiplied 30 times – is a strategic project both for Petrom, as well as for the country, due to the expected contribution to security of supply and economic growth.