Petrom reduces fuel prices by 0.04 RON/liter due to ending the collection of 1 cent/liter tax

Due to the reduction of the tax component by USD 0.01, following the end of the collection of tax related to the Special Fund for Oil Products, fuels prices in OMV and Petrom filling stations  will decrease  by 4 bani/liter (incl. VAT applied to 1cent/liter tax) as of January 25th, 2011.
The tax component within the fuels price represents around half of the fuel price. 

Petrom prices remain among the lowest in Romania, and the average prices applied by fuel operators in Romania are among the lowest in the European Union.
Petrom’s prices have a dynamic evolution based on the international fuels quotations as well as competition on the market. In addition, the prices are influenced by the fiscal policy and the exchange rate. 
Petrom reflects the international quotations for oil products in a moderate manner.

Petrom Group
Petrom Group is the largest oil and gas group in South-eastern Europe, with activities in the business segments of Exploration and Production, Refining and Marketing as well as Gas and Power. The Group consolidated its position on the oil market in South-eastern Europe following a far-reaching modernization and efficiency increase process whereas investments accounted for more than EUR 5 bn during the last five years.
In Romania and Kazakhstan, the Group exploits proved oil and gas reserves of pproximately
854 mn boe (in Romania 823 boe) and has a maximum annual refining capacity of 8 mn tons.
On the distribution market of oil products, Petrom Group is present through a network of approximately 800 filling stations, operated under two brands, Petrom and OMV. The activity in Romania is performed through OMV Petrom Marketing, 100% owned by Petrom. OMV Petrom Marketing operates 546 filling stations, out of which 389 are Petrom and 157 OMV. The Group also owns an international network of approximately 250 filling stations, located in Republic of Moldova, Bulgaria and Serbia.
For the Group’s sustainable development, its strategy includes business diversification by approaching the power market. In this context, Petrom is building a 860 MW gas fired power plant at Brazi and acquired the project for the construction of a 45 MW wind park.  
 
In 2009 the Group’s turnover was EUR 3,795 mn, EBITDA was EUR 969 mn. OMV, the leading energy group in Central and South-eastern Europe holds a 51.01% share in Petrom.
OMV is active in 12 Central European countries in its Refining and Marketing business segment and in 16 countries on four continents in Exploration and Production. Ministry of Economy holds 20.64% of Petrom shares, Property Fund SA holds 20.11%, the European Bank for Reconstruction and Development 2.03% and 6.21% is free float on Bucharest Stock Exchange.