A crude price determined by the supply and demand should averaging $65-75/barrel this year, although there may be speculative activity, said Mariana Gheorghe, chief executive officer of Petriom at the official opening of the trading session at Bucharest Stock Exchange.
At the New York Stock Exchange, crude was traded at $68/bbl, after the announcement of fuel consumption reduction in United States.
Mariana Gheorghe also said Petrom will be focused on other activities than oil and natural gas, such as electricity and alternative energy solutions.
The decline of crude price and oil sales have sharply eroded Petrom’s quarterly profit to 923 million lei, down 45% than a year earlier, but second-quarter results topped expectations.
Article comments "Petrom’s CEO sees crude price at $65-75/bbl in 2009"
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