Eni Romania budgets 20% higher business

Italian petroleum giant Eni, whose business stood at more than 83 billion euros in 2009, is convinced that the local fuel market will rebound in the second half, after having said last year that the total volumes sold in Romania had shrank by 10%.

Under the circumstances, the local branch, Eni Romania, is ready to invest 22 million RON (5.2 million euros), with part of the money set to go to the expansion of the filling station network, which should reach 42 stations by the end of the year.

“There can be no talk about a reversal of this (downward i.e.) trend now, but we are positive the market will show signs of a slight rebound in the second half of the year,” said Nicola Meuli, general manager of Eni Romania.

Based on these forecasts, the company believes it will reach some 400 million-RON (95.2 million euro) business at the end of 2010, an increase of about 20% compared with 2009 and expects net profit to reach 6 milion RON (1.4 million euros).