OMV chief Gerhard Roiss says Petrom takeover was vital for the survival of the Austrian group

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The acquisition of Romanian oil and gas company Petrom was the essential step in the development of OMV, making the Austrian group what it is today, said the general manager of OMV, Gerhard Roiss, who presented on Tuesday the balance sheet of the 17 years in the helm of OMV, APA reports.

“If we had not taken Petrom, it would have been very difficult to survive economically in the current climate,” said Gerhard Roiss during a meeting organized by the club of economic journalists in Vienna.

OMV Petrom is the largest integrated oil and gas group in South-eastern Europe, with an annual production of oil and gas to 66 million boe. The group has a refining capacity of 4.2 million tons per year and has a high efficiency power plant of 860 MW and a 45 MW wind park. On the distribution market of oil products, Petrom is present in Romania and in the neighbouring with some 780 gas stations.

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