OMV Petrom – investments 20 pc lower in 2015

OMV Petrom shareholders registered to the register of shareholders will receive a dividend of RON 0.0112 gross value per share. Total gross dividends value to be distributed starting June 12, 2015 amounts to RON 634 million, according to a decision adopted at the Ordinary General Shareholders Meeting held on Tuesday, hotnews.ro informs. Shareholders representatives have approved the budget of revenues and expenditures for 2015. The estimated investments of OMV Petrom amount to about RON 5.3 billion, 20% below the budgeted investments for 2014.

Most investments, 90%, aim, according to the OMV Petrom strategy, the Upstream operations and will continue operational excellence initiatives and the exploration projects onshore and offshore. Oil Downstream operations will get 9% of the budget, and 1% will represent investments in Downstream Gas.

“We are consistent with our objective to provide dividends, yet we must adapt to the new market environment, in which we see the halving of oil prices against last year. The proposal aims to pay dividends to shareholders, but at the same time providing the necessary resources to continue the company’s investment program,” said Mariana Gheorghe, CEO OMV Petrom.

The general shareholders’ meeting also approved the appointment of two new members to the Supervisory Board of OMV Petrom. Cristoph Trentini was appointed member of the Supervisory Board of OMV Petrom for a mandate in force until April 28, 2017. As of January 9, 2015, Trentini was appointed as interim member of the Supervisory Board following the decision announced by Hans Peter Floren to give up his mandate.