Petrom
Petrom
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legal form | Societate pe acțiuni (joint stock company) |
ISIN | ROSNPPACNOR9 |
founding | 1997 |
Seat | Bucharest |
Branch | oil |
Website | www.petrom.ro |
The Romanian oil and gas group OMV Petrom SA is a subsidiary of the Austrian OMV group (51%). Petrom has 35,813 employees (as of 2007). The company is listed in the BET 10 share index on the Bucharest Stock Exchange .
Petrom produces oil and gas in Romania and Kazakhstan . The daily output is around 217,000 barrels of oil equivalent, the reserves are around 1 billion barrels. This is processed in two refineries and sold via a dense network of filling stations in Romania and Moldova . Since 2006 Petrom has also been operating OMV's marketing business (retail, commercial) in Romania, Bulgaria and Serbia . Petrom also owns a fertilizer factory in the south of the country.
Petrom was founded in 1997 as a state oil company. In 2004 the state privatized the company and OMV was awarded the contract. This now holds a 51% stake in Petrom, approximately 21% is owned by the Romanian state, 20 percent of established on compensation for expropriation victims of communism Proprietatea Fund, 2%, the European Bank for Reconstruction and Development (European Bank for Reconstruction and Development), the The rest is in free float. OMV is now in the process of restructuring the inefficient oil company and bringing its plants up to the state of the art. In July 2011, the sale of the state-owned Petrom shares on the Bucharest Stock Exchange failed. The subscription level did not reach the desired rate.