Petrom targets annual modified bitumen sales of 25,000 tons

Petrom, the largest Romanian company said it had started the production of polymer modified bitumen in Romania under the brand name OMV Starfalt.

“The fact that we are now producing this modified bitumen, OMV Starfalt brings a series opf benefits to our clients. We continue to supply the same quality product while the delivery time is reduced by approximately 50%”, said Rainer Schlang (photo), member of Petrom executive board.

Petrom officials target annual modified bitumen sales of 25,000 tons in Romania and Hungary. This type of bitumen is also produced in Germany, Austria and Hungary.

OMV Starfalt has been sold on the Romanian market since 2008 through OMV Petrom Marketing. The product is a bitumen binder modified with elastomer, obtained based on a technology developed in OMV laboratories.

The polymer modified bitumen is used for roadworks under difficult weather conditions and heavy traffic.

OMV Petrom is the largest Romanian oil and gas group, with activities in exploration and production, refining and marketing as well as gas and power. Petrom exploits estimated proved oil and gas reserves of 823 mn boe in Romania, has an annual refining capacity of 8 mn tons and holds around 550 filing stations in Moldova, Bulgaria and Serbia.

OMV holds 51.01% share in Petrom, while the Ministry of Economy holds 20.64%, Property Fund 20.11%, the European Bank for Reconstruction and Development 2.03% and 6.21% is free float on Bucharest Stock Exchange.

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