OMV Petrom S.A.

  • Investment Summary
  • Fund Stake 10.0%
  • Sector Oil & gas upstream (exploration, production) and downstream (refining and marketing)
  • Website N/A

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 transferred to Fondul Proprietatea’s portfolio. 

According to Government Decision 832/04 August 2010 (published in Official Gazette 0608/27 August 2010), a 9.84% stake in OMV Petrom SA will be sold via public offer, from Ministry of Economy portfolio.

Petrom has recently transferred all assets and operations of the Marketing Division (all retail activities carried out through the filling stations network in Romania, Bulgaria, Serbia and Moldova) to a 100% owned subsidiary called Petrom Marketing SRL.

Also, at the beginning of September 2010 Petrom announced they sold entire 74.9% stake in Ring Oil Holding & Trading Ltd at an undisclosed price to the minority holder, Russian company Mineral and Bio Oil Fuels Limited. 

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