Petrom opens office in Brussels

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Petrom opened an office in Brussels, which will ensure an active participation in the process of drawing up European policies and an information flow referring to the policies of the European Union, to the activities of the European Union and the projects that are significant for the company, according to a Petrom release.

„It is necessary for us to be present and active in Brussels, considering the fact that much of the legislation referring to our activity is to be debated and adopted there.

Petrom is the first Romanian company opening an office in Brussels but I think that other operators from Romania will do the same too as the voice end the interests of the Romanian companies must be heard and known all over Europe.

Moreover, Romania’s accession to the European Union offers the opportunity to access some structural and European funds and a representation office in Brussels may be very useful in this respect,” said Petrom CEO Mariana Gheorghe.

The activity carried out by Petrom in Brussels will be managed by the company’s Directorate for Communication and Public Affairs. The Petrom office is in the same location with the OMV.

Petrom is the largest Romanian oil and gas company working in the fields of exploitation and production, refining and petrochemical products, marketing, natural gas and energy. Petrom exploits reserves of oil and gas estimated at 0.9 billion barrel oil equivalent, has a maximum annual refining capacity of eight million tonnes and about 550 fuel distribution stations in Romania.

The company also owns an international network made up of 257 petrol stations, which are located in the Republic of Moldova, Bulgaria and Serbia.

In 2008 Petrom posted 4.552 billion euros in turnover and EBITDA (revenues before interests, charges, depreciations and amortizations) was 969 million euros. The OMV, the leading group in the oil and gas industry in Central Europe, has 51.01 percent of the shares of Petrom.

The OMV works in 13 countries in Central Europe in the fields of refining and marketing and in 19 countries in six important areas in the fields of exploitation and production, gas distribution as well as in chemical products in 27 countries on five continents.

The State Assets Realization Authority owns 20.64 percent of the Petrom shares, the Ministry of Economy owns 20.11 percent, the European Bank for Reconstruction and Development, 2.03 precent, and 6.21 percent belong to the minority shareholders.

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