Loading ...“We are considering several renewable energy projects to harness wind and geothermal power. We will invest in renewable energy resources,” said Nicolescu.
The Petrom representative mentioned that Romania needs a consistent strategy in the sector of renewable energy, ‘because time is pressing.” Nicolescu said that green certificates are inefficient in the field of renewable energy and fixed tariffs should be introduced.
Petrom is the largest Romanian oil and gas company, with activities in exploration and production, refining and marketing, natural gas and energy sectors. Petrom exploits oil and gas reserves estimated at 0.9 barrels of oil equivalent, has a maximum refining capacity per year of 8 million tons and some 550 fuel distribution stations in Romania.
The company also runs an international chain of 269 gas stations, located in the Republic of Moldova, Bulgaria and Serbia. In 2008 Petrom’s turnover stood at 4.552 billion euros; the company’s EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) was of 969 million euros.
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