Due to the significant positions held by the two companies as well as out of transparency reasons, both parties agreed to request to the Competion Council to endorse the services agreement and thereby to confirm that this agreement observes the competition on the Romanian relevant market.
The above-mentioned agreement fully observes the applicable Romanian legislation.
In order to secure complete transparency, Petrom will notify the Competition Council within the legal period.
This services agreement represents the will of both parties and is the result of negotiations that started on January 1st, 2005.
The negotiations are based on the need of efficient operations of the two companies.
This contract favors the two parties both for the economic efficiency and performance as well as for Petrom customers.