OMV Petrom S.A.

• Investment Summary
• Fund Stake 2.98%
• Sector Oil & gas upstream (exploration, production) and downstream (refining and marketing)
• Website Click Here

The National Oil Company Petrom SA Bucharest (Petrom) was set up on the 1 November 1997, according to Government Emergency Ordinance 49/15 September 1997.

The privatization contract no 5/2004, stipulates the following:

- OMV bought directly a 33.34% stake in Petrom at a price per share of EUR 0.0525;

- OMV increased its equity interest by 17.66%, through a subsequent share capital increase.

Overall, OMV paid EUR 1.5 bn for a 51% stake in Petrom.

In 2004, following its acquisition by Austrian OMV, SNP Petrom changed its name into Petrom SA. Starting 1 January 2010, the company’s name is OMV Petrom S.A. 

According to law 247/2005, the Ministry of Economy contributed a 10% stake in Petrom to the capital of Fondul Proprietatea. Subsequently, as a consequence of Emergency Ordinance 81/2007, another 10.223% stake in Petrom has been transfered to Fondul Proprietatea’s portfolio. 

For information on the company's financial results, please visit the company's website here.