Transformer failure at Brazi Power Plant
OMV Petrom informs that, due to the failure of the steam turbine transformer, its Brazi power plant is currently unavailable.
The failure is under investigation to determine the impact and duration of its remediation. Based on preliminary data, the current estimation is that the unavailability of the power plant might last until end of July 2017.
OMV Petrom will communicate any relevant update in connection with this situation.
About OMV Petrom
OMV Petrom is the largest integrated oil and gas group in Southeastern Europe, with annual oil and gas production of approximately 64 mn boe in 2016. The Group has a refining capacity of 4.5 mn tonnes / year and operates an 860 MW high-efficiency power plant and a 45 MW wind park. The group is present on the oil products retail markets in Romania and neighboring countries through 783 filling stations, end 2016, under two brands – Petrom and OMV.
OMV, one of Austria's largest listed industrial companies, holds a 51.01% stake in OMV Petrom. The Romanian state, via the Ministry of Energy, holds 20.64% of OMV Petrom shares, Fondul Proprietatea holds 12.57%, and 15.78% is in free float on the Bucharest Stock Exchange and London Stock Exchange.