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OMV Petrom S.A. is a Romanian integrated oil company, controlled by Austria's OMV. [1] It is one of the largest corporations in Romania and the largest oil and gas producer in Southeast Europe. [2] Since 2004 it is a subsidiary of OMV. [3] With 2022 profits of EUR 12.5 billion, as of 2023, OMV Petrom is the largest company in Romania. [4]
In 1962 Petrobrazi became the first modern refinery in Romania with the addition of the catalytic cracking and reforming processes. [3] In 1965 the refinery was integrated with the Petrochemical Complex. In 1997 the state established Petrom as the national oil company also including the Petrobrazi Refinery. [3]
Petroleum field at Moreni, Romania (1920) During World War I Romanian wells were destroyed as the German–Austrian–Bulgarian armies advanced Five-Year Plan, 1951–1955: Oil production (Stamp of Romania) The emergence of oil production in the territory now known as Romania dates back to 1857, [1] with oil facilities gaining strategic ...
A fire at Romania's Black Sea crude oil refinery Petromidia, the largest in the country, was being brought under control after a blaze broke out on Wednesday, a government emergency response unit ...
The owning company Petrom will invest €200 million in the redevelopment of the Suplacu de Barcău oil field and a further 70 million barrels (10.24×10 6 tonnes) of oil will be made available thus increasing the total reserves at 310 million barrels (29.26×10 6 tonnes). [2]
Romania is a sovereign state located in Southeastern Europe. Following rapid economic growth in the early 2000s, Romania has an economy predominantly based on services, and is a producer and net exporter of machines and electric energy, featuring companies like Automobile Dacia and OMV Petrom .
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On February 17, 2009, Petrom decided to sell the petrochemical sector of the Arpechim Refinery to Oltchim for the price of 1 euro (US$ 1.25), but the buying company has to invest US$ 140 million in the sector due to contract clauses. [6] The Arpechim Refinery closed in 2011.