The company’s strategy for 2010 shows a focus on electricity, natural gas, hydro and wind-based energy producing industries, according to the company’s deputy CEO, Werner Schinhan.
“I believe Petrom can contribute to an increase in Romania’s power independence, not only by securing the reserves of crude oil and gas but by increasing the share of renewable energy in the power system,” said Schinhan.
The Petrom official noted the construction of an electricity plant running on gas at Petrobrazi should start next year and be completed by 2011. It is one of the company’s largest projects at a cost of 500 million euros. Petrom recorded a net profit of 381 million U.S. dollars in the first six months of the year, down 38 percent against the same period last year.
Source: Newsin
