Romanian oil and gas group OMV Petrom reported a 57% slump in fourth-quarter adjusted operating profit on Tuesday, citing weaker commodity prices and the impact of gas and power regulations.

In Romania, OMV’s majority-owned OMV Petrom SA is undertaking a project to build a plant to produce SAF and renewable diesel, as well as two green hydrogen facilities, at the Petrobrazi refinery.

Petrom has estimated oil and gas reserves of 1 billion boe, an annual refining capacity of 8 million metric tons and around 550 filling stations in Romania. Austrian OMV, the leading oil and gas ...