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Petrom

OMV Petrom Finalizes Modernization of Petrobrazi Refinery

OMV Petrom, the largest oil and gas producer in South-Eastern Europe, has announced the successful finalization of the modernization process of Petrobrazi refinery, performed during 2010-2014. Total investment in the modernization process amounted to around EUR 600 mln. The main target of the investment program was to increase competitiveness. OMV Petrom is now able to process the entire Romanian crude production of OMV Petrom in a single refinery.

July 24, 2014

Romania: Bucharest Stock Exchange to Be Enlarged?

Ludwik Sobolewski, new CEO of Romania’s Bucharest Stock Exchange (BSE), is toying with the idea of enlarging the institution and making it a competition to Budapest, Vienna and Prague withing two years only.

October 7, 2013

Romania: Austrian Investors Demand Transparency

In an interview with Business Review Romania, Rudolf Lukavsky, commercial counselor for Romania and Moldova at the Austrian Embassy described the downsides and advantages of the economic environment in the country.

September 17, 2013

Petrom: New Unit at Petrobrazi Refinery

OMV Petrom commissioned the new gas desulfurization and sulfur recovery unit at Petrobrazi.

August 8, 2013

Romania: Another Major Privatization Ahead

Romania´s government intends to sell the publicly held share in the telecommunication group Romtelecom.

August 6, 2013

ExxonMobil Signs Agreement with Ukrainian Government

ExxonMobil regards 45bn cubic meters of gas production realistic.

July 15, 2013

OMV Petrom Sold Subsidiary

OMV Petrom sold its subsidiary Petrom Distribuţie Gaze SRL.

July 11, 2013

OMV Petrom Set World Record in Casing Drilling.

OMV Petrom, the largest oil and gas producer in Southeastern Europe, set a world record in the field of casing drilling in terms of diameter of drilling column and depth.

July 5, 2013

Nabucco: Flop for OMV and EU

Petrom will resume exploration drilling in offshore Black Sea block.

June 27, 2013

Ukraine Could Become Energy Hub in Europe

According to EU Enlargement Commissioner Füle, Ukraine is an important partner of the EU.

June 26, 2013

Petrom to Invest in Oil Field Redevelopment

OMV Petrom invests € 90m for the Oprisenesti oil field redevelopment.

May 21, 2013

Romania Seeks Energy Independence

The Black Sea has huge deposits in gas which Romania wants to use to achieve energy autonomy.

May 8, 2013

OMV and Repsol Searching for Oil in Romania.

Petrom, the Romanian subsidiary of OMV and the Spanish Repsol Group have agreed on a joint venture in Romania. Investments estimated at approximately EUR 50 mn in the next two years.

February 23, 2013

Petrom: Major Gas Deal Signed

OMV Petrom exploring shallow water sector of Neptun block in the Black Sea.

December 22, 2012

Romanian Romgaz to be Privatized

The privatization of Romgaz at Bukarest Stock Exchange may become Romania´s biggest IPO. According to the Romanian news agency hotnews, other big privatizations in Romania may be postponed.

September 10, 2012

OMV Starts Gas Drillings in Ukraine

Together with the U.S. oils group ExxonMobil, the Dutch-British Shell Group, and the Ukrainian Nadra Ukrayny, OMV´s subsidiary Petrom starts natural gas drillings in the Ukrainian Black Sea region.

August 17, 2012

Changes in Petrom’s Executive Board

Petrom, the largest oil and gas producer in Southeastern Europe, announces a change in its Executive Board. Starting September 1, 2012.

July 13, 2012

Petrom Sells LPG

In order to optimize the R&M portfolio, the Romanian subsidiary of Austrian OMV sells its bottling plant to Crimbo Gas International. The price was not disclosed.

June 29, 2012

OMV´s Petrom: Investments Totaled € 7.7bn Since 2004

Petrom, the Romanian subsidiary of Austrian OMV finalized the upgrade of the crude vacuum distillation unit in Petrobrazi refinery. Investments of approximately € 100m will be made.

June 27, 2012

Intensive Talks between OMV and Romanian Government

The Romanian Prime Minister Victor Ponta initiated talks with the Austrian oil and gas group OMV. Romania wants to control fuel prices in future.

June 19, 2012

OMV Faces Extraordinary Tax in Romania

OMV´s Romanian subsidiary Petrom is threatened by an extraordinary tax for oil companies. The tax should be introduced in 2013.

May 19, 2012

Petrom Posts Strong Rise in Earnings

The Romanian subsidiary of Austrian OMV could raise its EBIT by 38% compared to the first quarter of 2011.

May 9, 2012

Romania: OMV Threatened by Extraordinary Tax

Romania´s new Minister of Economics Daniel Chitoiu forces OMV´s subsidiary Petrom to pay higher taxes.

May 8, 2012

OMV: „Nabucco is More Alive than Ever”

Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.

April 28, 2012

Roiss Claims European „Fracking“ Strategy

OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.

April 18, 2012

Romanian Government Considers Privatizations

The remaining publicly held stakes in Petrom, a subsidiary of Austrian OMV may be privatized. OMV does not participate in the transaction.

April 10, 2012

Romania Plans Further Privatizations

Above all, a sale of the minority stake in the oil company Petrom could bring up to $ 600m. The Austrian OMV, which is the majority owner of Petrom, could be interested.

March 27, 2012

Petrom Analyzes Romania Shale Gas Exploration Potential

The OMV-owned Petrom SA, Romania’s biggest oil company, is analyzing the potential for shale-gas exploration in the eastern European country.

March 20, 2012

Romanian President Again Critisized OMV´s Petrom

Romanian president Traian Basescu in television again emphasized that he cut ties with largest Romanian company OMV Petrom on ‘incorrect’, high profit-making policy.

March 20, 2012

Basescu Criticizes OMV Sharply

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.

March 13, 2012

Petrom Discovered Deep Water Gas Offshore Romania

The Romanian subsidiary of the Austrian oil and gas group OMV announces a first major success of its exploration works in the Black Sea together with Exxon Mobil.

February 22, 2012

Black Sea: Petrom and Exxon Mobil Found Gas

Romania’s first deepwater well indicates presence of hydrocarbons. The U.S. Exxon Mobil and Petrom, a Romanian subsidiary of Austrian OMV, are searching for natural gas.

February 4, 2012

OMV Condemned by Antitrust Authorities

Petrom, a subsidiary of the Austrian oil and gas company has to pay a € 85.2m fine in Romania.

January 11, 2012

Petrom and Exxon Explore in Black Sea

Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.

January 9, 2012

OMV Concludes New Syndicated Loans

The Austrian oil and gas company has signed two syndicated multi-currency credit facilities totaling € 1,680m, which replaces existing facilities maturing in 2012.

November 23, 2011

Petrom Accused for Breach of Antritrust Rules

The Romanian subsidiary of the Austrian OMV, Petrom, is confronted with alleged breach of antitrust regulations.

November 16, 2011

OMV’s Performance Still Impacted by Libyan Production Shortfalls

The Austrian oil and gas company reported strong results for the first nine months of the year. Group EBIT was up by 11% year-on-year.

November 9, 2011

OMV Considers € 1.5bn Credit Line

The Austrian oil and gas company is negotiating a major credit facility with a term of five years.

November 4, 2011

OMV’s Petrom Opens Wind Park in Romania

The subsidiary of the Austrian energy group invested a total of € 90m. The park has an installed capacity of 45 MW.

October 7, 2011

OMV’s Petrom Receives Approval for License Extension

The subsidiary of the Austrian oil and gas company was allowed to continue exploration works in Romania. The licenses were due to expire on September 12.

September 8, 2011

OMV’s Petrom Makes Significant Gas Discovery

The Austrian energy group’s subsidiary made a gas discovery in Romania. Further appraisal drilling is planned to assess what may be the most important onshore gas discovery in the country in the last six years.

July 7, 2011

Alpine to Build Motorway in Romania

The Austrian construction company is going to build a motorway section for € 91m within a period of 22 months.

May 24, 2011

OMV: No Increase in Share on Petrom

The Austrian energy company OMV will not participate in OMV Petrom secondary public offering.

April 27, 2011

Romania's Premier: "Sale to OMV was a Huge Loss"

Prime Minister of Romania Emil Boc regrets the 2004 sale of the then government owned Petrom to Austria's OMV.

March 30, 2011

Difficult Search for a Buyer for OMV Refinery

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

March 25, 2011 · Updated: March 26, 2011; 13:13

Romania Sells Stake in Petrom

The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.

December 7, 2010

OMV: Complete Takeover of Petrol Ofisi Fixed

The deal is finished. Turkey will be the third main market for the OMV group.

October 22, 2010

Austria Continues Being the Largest Investor in Romania

"Romania is an important market in Eastern Europe for the Austrian economy. Its great importance for us is proved by the fact that Austria is by far the largest investor in Romania"

September 23, 2010
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