Risk Management

In a constantly evolving business environment, we continuously enhance our governance practices to meet emerging challenges and seize future opportunities.

Transparency and accountability are deeply embedded in our culture. The Executive Board is responsible for ensuring that effective risk management systems are in place and is accountable for the overall management of risk across OMV Petrom.

The Executive Board plays a central role in steering the risk management framework, actively overseeing its development and implementation. This enables OMV Petrom to assess whether long-term sustainability and mid-term liquidity are safeguarded and whether risks remain within acceptable thresholds.

The Supervisory Board, with assistance from the Audit Committee, determines the company’s Risk Appetite, ensures there are clear structures, policies and procedures in place that identify, evaluate, report, manage and monitor significant and emerging risks, including risks related to sustainability, cybersecurity and the use of artificial intelligence and digital technologies, oversees the main risks and mitigation measures and assess the adequacy and effectiveness of company’s Risk Management and internal control frameworks.

Our Enterprise-Wide Risk Management (EWRM) system is aligned with the ISO 31000 international standard, and is supported by a dedicated risk management department, a robust internal regulatory framework and advanced IT infrastructure for data-driven risk analysis. The head of the risk management department has a direct communication line with the Audit Committee, allowing Audit Committee an effective and efficient oversight role.

From a strategic perspective, OMV Petrom conducts long-term risk assessments to capture executive insights, develop mitigation plans and monitor the execution of OMV Petrom’s strategy. For mid-term liquidity, our focus is on managing risks and their potential cash flow impact within the company’s defined risk appetite, ensuring the ability to generate positive economic value.

High-impact single-event risks and long-term strategic risks are systematically identified, quantitatively or qualitatively assessed, and managed. Risk considerations are integrated into all major project evaluations and business initiatives, ensuring informed decision-making at every level.

OMV Petrom’s commitment to sound risk management and corporate governance translates into consistent value creation for stakeholders, driven by transparency, accountability and strategic foresight.