OMV reported approximately €700 million in non-cash impairments for the fourth quarter, driven by weaker production across key assets in Romania, Tunisia, and New Zealand. The Austrian energy company's shares reacted negatively to the news, though management clarified these charges are special items that won't impact the clean operating result.

The write-downs reflect broader challenges facing European energy producers, including declining output from mature fields and volatile commodity pricing. OMV also cited costs tied to extending production licenses in Romania. Jefferies analyst Mark Wilson noted the update aligned with expectations, calling it unsurprising given prior communications about operational headwinds.

Upstream production dipped slightly to 300,000 barrels of oil equivalent daily, while crude prices averaged $62.40 per barrel. However, the refining segment showed improvement, with margins rising to $13.96 per barrel. Chemicals performance was mixed—higher polyolefin sales offset by lower cracker utilization. The company will release full results on February 4.