4 Noiembrie 2008

CEO Petrom: Romania must stimulate the development of alternative energy

Chief Executive Officer of Petrom, Mariana Gheorghe stated today at “Environment and Energy” roundtable organized by Business Standard daily, that Romania must stimulate the development of alternative energy, as Romania’s dependence on import is likely to enhance in the future, NewsIn informs.

“The global demand of electric energy is likely to increase by 50%. The primary power resources (coal, crude oil and gas) are limited and Romania’s dependence to imports may enhance (to one/two international providers)” said Mariana Gheorghe.

According to Petrom’s CEO , the traditional power resources are not sufficient and the country must stimulate the development of alternative energy. “Romania’s potential is high in alternative energy: wind energy, geothermal power”, Mariana Gheorghe added.

With activities in the business segments of Exploration and Production, Refining, Marketing as well as Gas, Petrom has proved oil and gas reserves of 940 mn boe, a maximum refining capacity of 8 million metric tons per year, approximately 600 filling stations in Romania and 200 filling stations in Moldova, Bulgaria and Serbia.

The stockholder structure includes OMV with head office in Central Europe, the majority shareholder with 51.011% stake, AVAS holding 20.64%, Fondul Proprietatea SA with 20.11%, European Bank for Reconstruction and Development with 2.026% and natural and legal persons hold 6.214% stake.

Translated by Camelia Oancea

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