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Petrom has a new director of Refining and Petrochemicals

Petrom, the largest oil and gas producer in South East Europe has a new Director for its Refining and Petrochemicals Division starting with January this year in the person of Mr. Jeffrey Rinker. Mr. Rinker is also a Petrom Managing Committee member and succeeds Mr. Florian Constantinescu, who will become a Senior Consultant within Petrom and will remain closely involved with managing refining operations. With Mr Rinker, Petrom gains a reknown expert in the field who will contribute to further developing excellence in its refining business.

Jeffrey Rinker, Refining and Petrochemicals Division Director of Petrom: “The Romanian oil industry has a long and proud history, and I am pleased to have the opportunity to participate in this tradition as Petrom grows into a world-class refining company. I’m looking forward to use my experience in the field to help Petrom’s Refining and Petrochemicals Division develop and become more modern and competitive. I also thank Florian Constantinescu who took important steps and contributed to developing the business in the first year after Petrom’s privatization.”

Notes to the editor:
Jeffrey Rinker graduated Chemical Engineering and has been working in the oil and chemicals industry for the past 16 years. Before joining Petrom he worked for BP (formerly British Petroleum) in various technical and commercial management positions in the US and the UK. In the late 1990s he managed the global acrylonitrile catalyst business of BP Chemicals. Beginning in 1999, he was responsible for starting up BP’s hydrogen fuels program, and served from 2000 - 2001 as Chairman of the National Hydrogen Association, a non-profit industry association based in Washington DC. Later, he held an executive staff position at the BP corporate headquarters in London.
Most recently, Mr. Rinker had the position of Commercial Manager for BP’s 160,000 bbl/day (8 mta) Toledo Refinery, located in the US Midwest.

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.