Petrom to invest €200 mln in gas stations

Petrom's plan is to invest €500 mln in marketing from 2005-2010, in addition to €300 mln invested already.

The company has built 100 PetromV gas stations over the last three years. Mayer said that Petrom will apply this concept to the gas stations in the Republic of Moldova. Petrom launched the PetromV concept in 2005 when it opened the first gas station of its kind in Bucharest.

Company officials announced that they transferred the 500 gas stations in Romania to the Full Agency administrative system, which allows independent dealers to manage the gas stations, of which half are former Petrom employees.

In the last 9 months, the company had a net worth of €460 mln, 22 percent less than in the same period in 2006. Revenue dropped 10 percent, to €2.62 mln, due to the lower prices.

Petrom’s main shareholder since 2004 is Austrian OMV group.