Petrom
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OMV Petrom S.A. is a Romanian integrated oil company, controlled by Austria's OMV. It is one of the largest corporations in Romania and the largest oil and gas producer in Southeast Europe. Since 2004 it is a subsidiary of OMV. With 2022 revenue of EUR 12.5 billion, as of 2023, OMV Petrom is the largest company in Romania.
OMV Petrom S.A. is a Romanian integrated oil company, controlled by Austria's OMV. It is one of the largest corporations in Romania and the largest oil and gas producer in Southeast Europe. Since 2004 it is a subsidiary of OMV. With 2022 revenue of EUR 12.5 billion, as of 2023, OMV Petrom is the largest company in Romania.
Operations
Apart from its operations in Romania, the company operates in Bulgaria, Serbia, Hungary, Moldova, Kazakhstan, Iran and Russia. In Moldova, OMV Petrom has operated 73 filling stations, being one of the leading oil companies, alongside Lukoil. In Hungary, there have been at least 2 OMV Petrom filling stations. OMV Petrom has operated in several countries: Romania - largest company; Moldova - 2nd largest company, 31% market share; Bulgaria - 3rd largest company, 18% market share; Serbia and Montenegro - 3rd largest company, 13% market share. In 2007 the company produced of natural gas and of crude oil.
Aktas oil field
The Aktas Oil Field is an oil field located in Mangystau Province. It was discovered in 1997 and developed, operated and owned by Petrom. The total proven reserves of the Aktas oil field are around 42 million barrels (5.7 million tonnes), and production is centered on .
Privatization controversy
The OMV Petrom privatization took place during the last months of the Adrian Năstase government. In December 2004, OMV obtained a 51% stake in SNP Petrom SA. Major Romanian newspapers published articles criticising the privatization of Petrom, on the grounds that last-minute unadvertised moves gave Petrom all of Romania's oil and gas reserves just before the privatization contract was signed. It was claimed that this move gave away the control of the country's national resources. As a consequence, OMV Petrom has a de facto monopoly on the oil production of Romania. Moreover, the state did not impose price controlling clauses in the privatization contract, so that Romanian-produced petroleum is sold in Romania at the same price as imported petroleum.
References
External links
Official Site Official Site Respect for the future – results 2009 Petrom on Facebook Petrom on Twitter Petrom on Youtube Petrom Press Office on Youtube Petrom on Flickr
Text derived from https://en.wikipedia.org/w/index.php?oldid=1372189538 under CC BY-SA 4.0; modifications have been made.