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Additional measures to increase the gas volume supplied by Petrom to the Romanian consumers

  • Petrom temporarily closes down Doljchim to supply additional gas to population
  • Gas supply increase up to 3 million m3 / day

Petrom, thelargest oil and gas producer in South Eastern Europe, has decided today in close cooperation with the Ministry of Economy and Commerce on measures meant to support an additional gas supply to the population in Romania, as a result of the very low temperatures in the country and of the decreasing import gas supply.

These measures include the temporary closing of the chemical plant, Doljchim and the production of additional gas which will bring an increase of the gas supply of up to 3 mn m3 / day, additionally to the gas market. These measures will be kept in place for the next few days while extremely cold temperatures are forecasted, and the situation will be monitored closely by both parties.

These deliveries are additional to the ones announced early in January based on the agreement between Petrom and the Ministry of Economy and Commerce, which represented an increase of 3.4 mn m3 / day in January and February.

Background Information
Petrom SA

Petrom is the largest Romanian oil and gas group, with activities in the business segments of Exploration and Production, Refining and Petrochemicals, as well as Sales and Marketing. Petrom has estimated oil and gas reserves of 1 billion boe, refining capacity of 8 million metric tons and 600 filling stations. In 2004 the sales revenue of Petrom was EUR 2,143 million, EBITDA was EUR 28 million. Since December 2004 OMV, the leading oil and gas group in Central Europe holds a 51% share in Petrom. OMV is active in Refining and Marketing, Exploration and Production, Gas as well as Chemicals in 28 countries on five continents. The Romanian state holds 40.74% of Petrom shares, the European Bank for Reconstruction and Development, 2.03% and 6.23% are owned by minority shareholders.