Speaking at a news conference, Gheorghe said negotiations with trade unionists are ongoing. Petrom’s chief didn’t advance a figure for the planned pay increases.

Earlier Thursday, Petrom said its 2012 net profit rose 5% on the year to a record 3.95 billion lei (EUR901 million), with sales increasing 16% to RON26.26 billion.

Petrom is 51.01% owned by Austrian oil and gas group OMV, while the Economy Ministry holds a 20.64% stake, Fondul Proprietatea (FP.RO) holds 20.11% and the European Bank for Reconstruction and Development holds 2.03%.

End-2012, the company employed 21,650 staff, down 6% from 22,912 people a year earlier. (EUR1=RON4.3799)