Romanian Petrom makes EUR 5.8 bln profit after privatization
Oil & gas group OMV Petrom has made a EUR 5.8 billion profit since it was privatized in 2004. It has paid taxes of EUR 19 billion during this period, reports local Economica.net. The Austrian group OMV took over the company in 2004 with…
Romania Insider · Journalist
· Updated · 1 min read
Oil & gas group OMV Petrom has made a EUR 5.8 billion profit since it was privatized in 2004. It has paid taxes of EUR 19 billion during this period, reports local Economica.net. The Austrian group OMV took over the company in 2004 with EUR 1.5 billion. It paid the Romanian state EUR 670 million for the majority stake in the firm, and made a capital increase of EUR 830 million. Petrom is the second largest company in Romania based on the turnover. It is also the largest contributor to the state budget. It has leased most oil deposits in the country and shares the gas production with Romgaz. It is also the largest fuel distributor with a network of 550 gas stations. editor@romania-insider.com
