Romanian OMV Petrom contributes EUR 19 bln to state budget
Oil & gas company OMV Petrom contributed EUR 19 billion to the state budget between 2005 and 2014, whereas its investments amounted to EUR 11.5 billion in the same period, said Alina Popa, financial director with the group. The wells…
Romania Insider · Journalist
· Updated · 1 min read
Oil & gas company OMV Petrom contributed EUR 19 billion to the state budget between 2005 and 2014, whereas its investments amounted to EUR 11.5 billion in the same period, said Alina Popa, financial director with the group. The wells drilled in the last four years generated 25% of the company’s production, so investments are essential in this industry, Popa added, cited by local Economica.net. Otherwise, production falls, which leads to a drop in the contributions to the state budget. In 2014, OMV Petrom posted a net profit of EUR 475 million, down 56% compared to 2013. OMV, the largest listed industrial company in Austria, owns s 51.01% stake in OMV Petrom. editor@romania-insider.com
