The Austrian oil-and-gas company said The company said its refining margin fell to $5.9 a barrel, compared with $9.9 a barrel a year ago.

OMV Petrom Group (BVB: SNP) reported a net profit of RON 4.2 billion for 2024, up 4% from RON 4 billion the previous year, according to preliminary unaudited consolidated data announced by the company on February 4.

The Bucharest-listed company posted an adjusted operating profit of 955 million lei ($197.61 million), down from 2.24 billion lei a year earlier. OMV Petrom, majority-owned by Austria's OMV, reported weaker performance across all segments for the quarter,

The company, majority-owned by Austria's OMV, faced lower oil prices, reduced sales volumes, and declining refining and sales margins.