Petrom considers several green-energy projects

OMV’s Petrom, Romania’s largest company by market value said it was considering a number of renewable power projects, according to Razvan Nicolescu, head of corporate affairs at the oil company.

“Petrom has a direct interest in the renewable power sector and we are considering several projects, but it is not yet clear when investments will be made. We will make a public announcement when we will reach a decision in this regard”, said Razvan Nicolescu at the Forum Invest forum on power sector in Central and Eastern Europe.

The company didn’t disclose further details on these projects, but mentioned Petrom’s central focus were geothermal and wind energy. “It is too early to say when we will begin investments because it largely depends on how long will the current economic crisis last”, said Nicolescu.

Petrom is the largest oil and natural gas company in Romania, with activities in Exploration and Production, Refining, Marketing as well as Gas. Petrom has proved oil and gas reserves of 940 boe, a maximum refining capacity of 8million metric tons per year and approximately 550 filling stations in Romania.

The company operates an international network of 269 filing stations in Moldova, Bulgaria and Serbia. In 2008, Petrom reported €4.552 million revenues and €969 million EBITDA.

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