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Romanian company with activities in oil & gas industry, drilling, workover and production.
Petrom is the largest Romanian oil and gas group, with activities in the business segments of Exploration and Production, Refining and Petrochemicals, as well as Marketing. Petrom has estimated oil and gas reserves of 1 billion boe, a refining capacity of 8 million metric tons per year and 553 filling stations.
Petrom is presently owned by OMV with 51.011% of its shares, AVAS (Authority for State Assets Recovery) - 20.64%, the Property Fund SA – 20.11%, the European Bank for Reconstruction and Development – 2.026% and by minority shareholders – 6.214%.
The increased investments volume, the continuation of modernization projects and initiation of new ones, local and international field experience, permanent preoccupation towards employees, customers and community, professionalism and determination made that the first results become visible:

* Petrom has the largest market value in Romania.
* The company has the largest investment program in the Romanian energy sector, namely more than EUR 3 bn until 2010. Only in 2007, Petrom will invest approximately EUR 1bn;
* Petrom is the company with the largest contribution to the state budget; approximately 45% of its EBITDA goes to state institutions as taxes, contributions and dividends.

Petrom is a rising company, with an obvious potential for success, which is already bringing benefits for shareholders, community and environment and the Romanian economy in general, through its activities and through its contribution to the development of the Romanian business environment. One of Petrom’s main objectives is to become not only the largest but also the most successful company in Romania, a true role model for our society.
by Liviu Tudorache September 20, 2007
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