The OMV Petrom delegation is meeting with Romania’s president ahead of consultations to nominate a prime minister

An OMV Petrom delegation led by Emma Delaney, the group’s new chief executive, is expected at Cotroceni Palace for a meeting with Romania’s president. The talks are scheduled for 10:00 a.m., four hours before consultations with political parties on nominating a new candidate for the position of prime minister. After 7:00 p.m., the head of state is expected to announce the designated prime minister.

The meeting comes as the agreement in principle between OMV Petrom and the Romanian state, signed at the end of last year, has not yet been transposed into legislation. The document provides for the extension of onshore exploitation licenses by 15 years, a two-year extension of the exploration period for Neptun Deep, and a 40% increase in oil royalties.

The agreement also includes changes to the gas taxation regime and an increase in the investment deduction. In return, OMV Petrom would give up its request for compensation for historical pollution, estimated at 600 million euros.

At the same time, the Romanian state intends to purchase, through ANRSPS, 49.9 TWh of gas from Neptun Deep for seven years, at an estimated cost of 12.79 billion lei, excluding VAT and excise duties. The Fiscal Council and the Legislative Council have warned that the draft does not clearly specify the source of financing or the impact on the budget. Production from Neptun Deep is expected to begin in 2027, and the gas is also sought by Hungary, Slovakia and Austria.