Romanian market too small for British Petroleum

Turnover in the first 9 months of 2007 was 10 times higher than OMV, owner of Petrom, Romania’s largest company.

“British Petroleum has never been interested in the Romanian market. We lack oil reserves. We do have reserves, but they do not even meet our needs,” said Dan Mihoc, General Manager of Premium Lubricants Romania, local subsidiary of BP.

“The corporation is interested in large oil reserves capable of lasting 50, 60 or 70 years, not just for the local market, but also for neighboring countries. BP has a global strategy,” Mihoc added.