Oil price is a major factor in the company’s profitability.
This is Petrom’s sharpest decline in recent years.
OMV Petrom has a stock market value of RON21.4 billion. It is 51% owned by Austria’s OMV and 20.6% by the Romanian state.
Capital Market
OMV Petrom Shares Fall 24% After Brent Oil Price Drop
Shares of OMV Petrom (SNP.RO), the most valuable company listed on the Bucharest Stock Exchange, fell 24% Monday in reaction to a sharp drop in Brent oil prices Sunday night.