This change, albeit most likely temporary, mirrors the significant changes of the global oil market, where the oil price fell from $100 to less than $50. Experts say the sudden oil price slump caused the shelving of $380 billion projects, with most of the sustainable investments turning into risks that were impossible to take.
Official data show OMV Petrom SA, the exploration and drilling company of the group, posted 13.6 billion lei (EUR3 billion) revenue in 2015, 17% lower than in 2014 and RON696 million losses, the first since the privatization in 2004.
The oil price slump forced the company to take a significant impairment on exploration and drilling assets and close the non-profitable wells, which shows in the decline in production.
On the other hand, OMV Petrom Marketing, the company that manages the Petrom and OMV gas stations ended last year with RON14.7 billion revenue, up from the RON14.2 billion of 2014. OMV Petrom Marketing also posted RON311 million net profit. The company had 554 gas stations last year, which made Petrom the leader of the filling station market, put at EUR9.5 billion to EUR10 billion a year.
OMV Petrom officials did not comment on the information by the time the story was ready for posting. (EUR1=RON4.5115)
(English version by Loredana Fratila-Cristescu)