Berinde is to lead a new Corporate Affairs and Conformity Department, reporting directly to Petrom’s General Manager, Mariana Gheorghe. He was head of the Competition Council for three years, stepping down from this position in March 2007. He later served as Deputy General Manager of Romcontrol SA, a company involved in testing activities and technical analyses.

Sources within the Ministry of Economy and Finance have told Business Standard that Petrom has also recruited Carmen Marin, a former manager within the Hidroelectrica energy company. According to Hidroelectrica sources, Marin is part of the commercial department of Petrom’s Energy division, established on 1 October 2007.

Petrom is the largest company listed on the Bucharest Stock Exchange (BVB). Austrian group OMV became the company’s majority shareholder following its acquisition in 2004 of 51.01 percent of Petrom. For the first nine months of 2007, the company posted €460 million in net profit, 22 percent lower year-on-year, because of the appreciation of the leu and a 20 percent rise in oil prices.