OMV Shares Stabilize as Romanian Power Plant Resumes Operations

Omv AT0000743059

Recent uncertainty surrounding OMV’s Romanian subsidiary, OMV Petrom, had cast a shadow over the Austrian energy group’s outlook. The forced shutdown of the crucial Brazi gas-fired power plant raised concerns during a sensitive period of winter demand. The company has now reported a resolution, with regular operations restored and the associated operational risk contained.

• Key Development: The 860-megawatt Brazi gas power plant has successfully resumed operations.
• Cause of Shutdown: Regulatory water supply reductions at the Paltinu dam necessitated the halt.
• Plant Significance: This facility supplies approximately 10% of Romania’s electricity requirements.
• Market Reaction: The share price continues to hold firm above Read more...