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Petrom - partner of Romanian Athletics Federation

  • EUR 100,000 to support Romanian athletes
  • Partnership developed under program Petrom Move & Help :-)

Petrom, the largest oil and gas producer in South Eastern Europe, entered an agreement with the Romanian Athletics Federation to support the Romanian athletes, within the program Petrom Move & Help :-). As part of this partnership, EUR 100,000 will be allocated by Petrom to assist the Romanian Athletics Federation in their sports activities in 2006. “This partnership is clearly showing the interest of a dynamic company to reinforce human values. It is our duty, of all of us to promote the true values and, in the same time, to bring our contribution to providing the right support to their development”, stated Gheorghe Constantinescu, CEO of Petrom.

The partnership, carried out within the program Petrom Move & Help :-), was initiated at the end of March, this year and is the second collaboration between Petrom and Romanian Athletics Federation. Last year, Petrom joined the Romanian athletes and put up the amount of EUR 50,000, destined to the participation of athletes in national and international competitions.

Petrom Move & Help :-) is a far reaching program of social involvement carried by Petrom for the protection and development of the community. “ Petrom Move and Help :-) expresses our social commitment towards the community in Romania; we are the largest company in Romania, the development process is underway and it is our strong belief that this fact should also be reflected in our care for the community”, added Mr. Gheorghe Constantinescu.

Under Petrom Move and Help :-), the company involved in long term social programs together with the Romanian Red Cross, UNICEF and the Romanian Athletics Federation. Over EUR 1.3 mn were used in support programs for the hard hit, informing the population about disaster prevention, parental education in pre-school education and sports activities

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, an annual refining capacity of 8 million metric tons and around 550 filling stations in Romania. The company also has an international network with 82 filling stations located in Moldova and Hungary. This network was increased by 178 OMV premium stations in Romania, Bulgaria and Serbia-Montenegro, acquired in January 2006. In 2005 the turnover of Petrom was EUR 2,970 million, EBITDA was EUR 766 million. Following the share capital increase OMV, the leading oil and gas group in Central Europe holds a 51,011% 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 30.862% of Petrom shares, Property Fund SA holds 9,887%, the European Bank for Reconstruction and Development, 2.026% and 6.214% are owned by minority shareholders.