Petrom to invest EUR 1.47 billion this year
June 2013 - From the Print Edition
OMV Petrom has budgeted investments of RON 6.4 billion (EUR 1.47 billion), representing a record for the company, according to officials. The investment value this year is 24 percent higher than last year and was approved in the General Meeting of Shareholders in late April. Most of the investments (80 percent) are designed for exploration and production activities, allowing opportunities for growth through both exploration work and the acquisition of exploration licenses. Moreover, refining and marketing activity accounts for 17 percent of the budget, while four percent will be invested in gas, energy, offices and other areas. "OMV Petrom has invested EUR nine billion in the last eight years, about 86 percent of the operating profit, and remains the largest investor in the energy sector in Romania," said officials.
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