Petrom from gas and oil, to electrons and wind

Petrom, Romania’s biggest company, became part of Austrian OMV’s portfolio in late 2004, with the company over the past six years undergoing a significant transformation process that has marked its financial results.

Whereas in 2004 Petrom posted 240m-euro losses against around 2bn-euro turnover, in the six months of this year alone the company reported net income worth 1.5bn RON (366.8m euros) and sales of 8.3bn RON (over 2bn euros).

The company, as it looks today, is, however, completely different from the one OMV took over almost six years ago.

While at the moment of privatisation, Petrom had over 50,000 employees, now its headcount has halved. The headcount reduction is not the most visible transformation Petrom has undergone, though. Maybe the most visible difference is the changed interface with clients, with the old filling stations having now turned into real services centres holding restaurants, children’s playgrounds and spaces where clients can operate money transfers or pay bills.

Still, one of the most important steps the company has taken is that of its entering the (conventional and renewable) energy segment.