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Difficult Search for a Buyer for OMV Refinery

Published: March 25, 2011; 13:13 · Updated: March 26; 13:13 · (Vindobona)

The Austrian energy group has tried, so far unsuccessfully, to sell a refinery of its Romanian subsidiary Petrom. Now it will be closed down.

Difficult Search for a Buyer for OMV Refinery / Picture: © OMV AG

OMV subsidiary Petrom will close down one of its refineries. The capacity of the plant is 3.5m tons of oil and employs about 700 people. OMV wants to continue increasing the efficiency of Petrom by this measure. The decision was mainly due to the low margins: according to Petrom there are exorbitant excess capacities in Romania, for which reason other market adjustments on the Romanian…

This article includes a total of 131 words.

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