Oil and gas company OMV Petrom plans to make investments of around EUR 1 billion in 2012, according to the company. OMV Petrom is also considering the allocation of dividends for 2011, based on the record preliminary results posted for last year. “The company’s investment budget and dividend allocation is subject to further approval by the General meeting of Shareholders, on April 27, 2012," reads a statement from the company.

In 2011, the company posted its highest net profit ever: EUR 886 million, up 72 percent on the year before. Its turnover stood at EUR 5.3 million, slightly below its record turnover from 2008, of EUR 5.4 million. The business growth slowed down in the last quarter of the year, when turnover went up by 17 percent and profit by 7 percent.

Read more about the company's last year results here.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)