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Basescu Criticizes OMV Sharply

Published: March 13, 2012; 18:17 · (Vindobona)

The Romanian President Traian Basescu is deeply disappointed of the Austrian oil and gas company OMV. The Romanian subsidiary “made too much profits”, Basescu says.

Basescu Criticizes OMV Sharply / Picture: © presidency.ro

“I have broken every relation to Petrom.” The Romanian President Basescu recently said. Basescu blames the subsidiary of OMV to have made “too much profits in the economic crisis”. There would be la “lack in fair play”.

Petrom, which is the largest Romanian company, recorded profits of € 866m in 2011 (+72%). Petrom did not react to Basescu´s statement.

For the Romanian President, the price policy is not fair. The high fuel prices cannot be argued by the oil price of $ 120, Basescu says and refers to oil exploitation costs of $ 16 in Romania. Basescu showed regret that the contract with OMV does not contain a price control mechanism by the Romanian state.

The President alleged that he has had talks with OMV´s CEO Gerhard Roiss several times. “The answer was everytime the same. “Let´s see…”, “We will try …” and “We will discuss that…”. But in reality, OMV did not care at all.”

Petrom produces 805m barrels per year in Romania and disposes of refining capacities of 4.5 million tons. Petrom disposes of 800 petrol stations in Romania, Serbia, Bulgaria, and Moldavia. The Romanian state still has a 40.75% stake in the company.

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