Petrom facts for kids
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| Societate pe Acțiuni | |
| Traded as | BVB: SNP |
| Industry | Oil and gas industry |
| Founded | 1991 |
| Headquarters |
PetromCity, Bucharest
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Key people
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Christina Verchere (CEO) |
| Products | Petroleum products Petrochemicals Microelectronics chemicals |
| Revenue |  21.5 billion RON (€8.9 billion) (2014) |
| 2.1 billion RON (€475 million) (2014) |
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| Total assets | 43.1 billion RON (€9.7 billion) (2014) |
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Number of employees
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17,799 (2014) |
| Parent | OMV (51%) Romanian Government (20%) |
OMV Petrom S.A. is a large Romanian company that works with oil and gas. It is mostly owned by an Austrian company called OMV. OMV Petrom is one of the biggest companies in Romania. It is also the largest producer of oil and gas in Southeast Europe. Since 2004, it has been part of OMV. In 2022, OMV Petrom earned about 12.5 billion EUR. This made it the largest company in Romania in 2023.
Contents
Company History
How OMV Petrom Started
In late 2004, the Romanian government sold Petrom to the Austrian oil company OMV. This was a very big deal for Romania at the time. OMV bought the company that was previously known as SNP Petrom SA.
In 2005, Petrom sold five of its six offshore drilling platforms. These platforms were sold to another company called Grup Servicii Petroliere. The sale was for 100 million US dollars.
Expanding the Business
In January 2006, Petrom bought OMV's operations in Romania, Bulgaria, and Serbia. This meant that OMV's gas stations in these countries became part of Petrom. However, they continued to use the OMV brand name.
From January 1, 2010, the company officially changed its name to OMV Petrom.
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In April 2010, OMV Petrom started new projects in electricity production. They bought a company that was developing a Dorobanţu Wind Farm. This helped them get into renewable energy.
On May 18, 2010, OMV Petrom finished an important project in the Black Sea. They worked on the Lebăda Est and Lebăda Vest oil fields. This work was expected to increase oil production from these areas.
New Headquarters and Gas Systems
On June 1, 2010, OMV Petrom started using the Hurezani gas delivery system. This system helps to deliver gas into the national network more efficiently. It is especially useful when there is high pressure in the gas system.
On July 12, 2010, OMV Petrom signed a 15-year contract with Petrofac. Petrofac is a company that helps improve oil and gas production. They worked together to increase oil production in the Țicleni area of Southwest Romania. The goal was to boost production by at least 50% in five years.
On December 2, 2010, OMV Petrom opened its new main office, called Petrom City. This building is in northern Bucharest. It brought together about 2,500 employees from seven different company offices.
In 2010, OMV Petrom also completed the Hurezani gas delivery system. This project cost about 135 million euros. It included a new compressor station and new pipelines.
Recent Developments
OMV Petrom stopped buying Russian crude oil in April 2022. The company decided to buy oil for its refinery from other places. This happened even if the prices were higher. At that time, OMV Petrom was the largest energy company in Romania.
In December 2022, a Romanian investment fund sold all its shares in OMV Petrom. This sale was worth about 159.45 million dollars. OMV in Austria still owns most of OMV Petrom.
In early 2023, OMV Petrom announced its revenues for 2022. They were RON 61.3 billion (EUR 12.5 billion). This was 2.4 times higher than their revenues in 2021. This confirmed OMV Petrom as the largest company in Romania.
In February 2023, Christina Verchere was still the CEO of OMV Petrom. She said the company was close to starting a big gas project. This project is called Neptun Deep and is located in the Black Sea. The final decision about the project was expected in mid-2023. Gas extraction from this project was planned to start in 2027.
In March 2023, Romanian lawmakers discussed changing a law. This was to make sure OMV Petrom paid a "solidarity contribution" to the government. This contribution is for companies that make large profits from oil and gas. OMV Petrom had previously said it did not need to pay this.
Where OMV Petrom Operates
OMV Petrom works in many countries besides Romania. These include Bulgaria, Serbia, Hungary, Moldova, Kazakhstan, Iran, and Russia. In Moldova, OMV Petrom has 73 gas stations. It is one of the main oil companies there.
OMV Petrom is a big player in several countries:
- Romania - It is the largest company in the country.
- Moldova - It is the second largest company, with 31% of the market.
- Bulgaria - It is the third largest company, with 18% of the market.
- Serbia and Montenegro - It is the third largest company, with 13% of the market.
In 2007, the company produced 5.5 billion cubic meters of natural gas. It also produced 191,000 crude oil barrels per day.
Aktas Oil Field in Kazakhstan
| Aktas Oil Field | |
|---|---|
| Country | Kazakhstan |
| Region | Mangystau Province |
| Offshore/onshore | onshore |
| Operator | Petrom |
| Field history | |
| Discovery | 1997 |
| Start of development | 1997 |
| Start of production | 2009 |
| Production | |
| Current production of oil | 1,000 barrels per day (~50,000 t/a) |
| Estimated oil in place | 5.7 million tonnes (~ 6.7×106 m3 or 42 million bbl) |
The Aktas Oil Field is an oil field located in Mangystau Province, Kazakhstan. It was found in 1997. Petrom developed, operated, and owned this oil field. The field has about 42 million barrels of oil. It produces around 1,000 barrels of oil per day.
OMV Petrom Bucharest International Half Marathon
OMV Petrom also supports community events. The second OMV Petrom Bucharest International Half Marathon took place in 2013. It was organized by the Bucharest Running Club Association. OMV Petrom was the main sponsor of this event.
More than 6,000 people from 43 different countries ran in this marathon.
Half Marathon Winners
| Rank | Men | Time | Women | Time | ||
|---|---|---|---|---|---|---|
| 1 | Kirui Nicholas Kipngeno |  Kenya |
1h 04' 07" | Naali Mary Xwaymay |  Tanzania |
1h 16' 32" |
| 2 | Lesuuda Andrew Papasio | Kenya |
1h 04' 53" | Alebachew Selam Abere |  Ethiopia |
1h 18' 20" |
| 3 | Kanda Japhet Kimutai | Kenya |
1h 07' 12" | Nicoleta-Alina Petrescu |  Romania |
1h 20' 24" |
| 4 | Maritim Kipkoech | Kenya |
1h 09' 04" | Rodean Ana-Veronica | Romania |
1h 24' 51" |
| 5 | Slimani Benazzouz |  Morocco |
1h 10' 12" | Grădinariu Alexandra | Romania |
1h 30' 26" |
The half marathon was held on May 19 in Constitution Square, Bucharest. The event had several races. These included a half marathon (21.097 km), a team relay, and individual races. There was also a fun race for kids aged 4-12 years old.
Awards and Recognition
OMV Petrom has received many awards and recognitions over the years:
- It was named "The most valuable company in Romania" by "Ziarul Financiar" from 2005 to 2011.
- It won a "Trophy for Excellence in Investments in Southeastern Europe" in 2005.
- It was ranked first in "Top Companies in Sector 1" by the Chamber of Commerce and Industry of Romania in 2008-2009.
- It received "National Awards for companies in Romania" in 2008-2009.
- It was recognized as a "Leading Company in Romania" by Finmedia in 2008, 2010, and 2011.
- It was named "The largest sponsor and the corporation with the largest impact" by Habitat for Humanity in 2009.
- It was listed as "The largest company in Southeastern Europe" by SeeNews in 2010-2011.
- It won a Safety Award for improving safety culture in 2010.
- Its "Andrei's School" program was named the "Best CSR program" in 2010.
- It was called "The largest oil company in Romania" by "Ziarul Financiar" in 2012.
- It was first in the "Top 100 Companies" list by Finmedia in 2012.
- It was recognized for having the "Best CSR strategy" in 2012.
- It won a bid to explore for gas and crude oil in the Black Sea, off the coast of Georgia.
See also
In Spanish: Petrom para niños
