Two investment scenarios for Petrom

The shareholders of Romania’s largest company, SNP (National Oil Company) Petrom, have decided to tie the next three years’ minimal investments to the international oil prices. The first scenario is based on an $18 price per barrel, in which case investments would amount to 1.2 billion dollars by 2005. The funds for next year would reach 393 million dollars. The second scenario takes into account 13 dollars per barrel, which means that investments would only amount to 1.03 billion dollars (345 million dollars for 2003). ZF