Romania’s Oil Co Petrom Hikes Gas, Diesel Oil Prices

ECOPremium 95 gas will cost RON3.55 per liter, unleaded Premium RON3.52, and Top Premium RON3.85 per liter.

OMV Carrera 95 and OMV Carrera 100 gas will cost RON3.62, and RON4.25 per liter, respectively.

OMV Premium Diesel Alpine Diesel will be RON3.95, while Top Euro Diesel 4 RON3.59 per liter.

Petrom’s price policy enforced early 2005 is subject to international quotations of oil prices and to the domestic market.

Petrom is the largest corporation in Romania and the largest gas and oil producer in Southeastern Europe.

In December 2004, Petrom was privatized and became a part of OMV AG (OMV.VI), which is the majority shareholder. It has 500 gas stations on the local market, 75 of which are PetromV.

Petrom said its first half net profit fell 38% to RON887 million, from RON1.427 billion a year earlier, driven by the negative impact of the Romanian leu’s appreciation and lower crude oil prices.