Romania: OMV Petrom to sell 60 oilfields

OMV Petrom, the largest oil and gas producer in Southeastern Europe, continues to sell several assets in its portfolio this year, so it will transfer 50-60 less profitable oilfields and will sell three motels, Mariana Gheorghe, CEO OMV Petrom said in an interview for, informs.

According to her, the company has launched the market research, stressing that there is interest in these deposits.

”We will see what the market wants. It’s a more lengthy process, it’s a bigger volume and that’s why we do not want to give deadlines,” Gheorghe added.

As regards the new amendments to the Tax Code, CEO OMV Petrom believes that they are measures with impact on employees and company’s business.

“The business environment, which we are also part of, has always said that stability and predictability is needed, and we believe that a fiscal clarity is also needed, as well as a fiscal reform, but steps must be based on impact analysis, to be done in a structured and well-planned manner,” Gheorghe pointed out.

OMV Petrom’s net profit grew by 111 percent in the first nine months, to RON 1.85 billion, from RON 878 million in January-September 2016, while the total sales increased by 20 percent, to RON 14.29 billion.

The company’s investments fell by 5 percent in the first nine months, to RON 1.72 billion, from RON 1.81 billion in the same period last year.


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