Petrom deals on Romanian Commodities Exchange

SNP (National Oil Company) Petrom, Romania’s largest oil company, last week closed two fuel sale contracts worth $45 million through the Romanian Commodities Exchanges (BRM). The oil company is among the most active players on BRM, with annual transactions worth hundreds of millions of dollars, as it runs import-export deals, but also sale-purchase operations on the domestic market. Petrom last week submitted a bid to supply 72,000 tones of Euro 3 Diesel fuels to CFR Marfa (Romania’s railway operator for commodities), under a $24m transaction. According to BRM officials, this was last week’s biggest transaction. Also, the oil company sold 54,000 tonnes of gasoline, worth $21.6 million last week. ZF