WIEE Romania makes 400m euros with 7 employees

WIEE Romania, which specialises in trading natural gas, held by WIEE, a Switzerland-based Gazprom and Wintershall joint venture, posted a 388 million-euro turnover last year, up 84% against 2007, according to company officials. WIEE is the largest gas intermediary favoured by Russia as early as in 1993 in relation to Romania, with WIEE Romania being a local satellite of the parent company, which also deals in Russian gas. WIEE Romania comes between the consumer and the sole imported gas supplier, Russia. It, in turn, buys gas from one of the brokers accepted by the Russians and then resells it to its clients. The profit fetched by WIEE Romania, 84% higher in 2008 than that recorded in 2007, was achieved with no more than 7 employees, almost twice as many as in the previous year, which means an over 55 million-euro productivity per employee. WIEE Romania’s productivity is over 360 times higher than that of companies such as Petrom, Romgaz and GDF SUEZ Energy Romania, operating on the natural gas segment, whose average productivity does not exceed 0.15 million euros per employee.