OMV Petrom presents its development strategy at the Cotroceni Palace

Austrian group OMV Petrom intends to increase the international profile of Romanian group OMV Petrom as part of its new development strategy and also plans a substantial increase in investments starting this year, according to a press release issued by the Romanian Presidency, quoting OMV CEO Reiner Seele.

President Iohannis reiterated the importance of energy infrastructure as a means of increasing national and regional security, while OMV Managing Director Rainer Seele highlighted the need for predictability of the fiscal and regulatory framework that should support company performance and the development of a stable and competitive business environment.

Head of the Romanian State reiterated the importance of energy infrastructure to increase energy security at national and regional level. President Iohannis also expressed his conviction that OMV Petrom will continue to record outstanding economic performance.

OMV Petrom is the largest integrated oil group in Southeast Europe and has contributed to the state budget with over € 24.5 billion in taxes and dividends paid during 2015-2017.

OMV CEO’s meeting with the Romanian President took place on the same day that the Austrian group named a new CEO at OMV Petrom. Brit Christina Vercherea, a former BP executive, will replace Romanian Mariana Gheorghe, who has led the company over the past 12 years.

Source:RRA.Translated by Miruna Matei