The OMV CEO, Wolfgang Ruttenstorfer, failed to offer any details on the Petrom privatization contract clauses, although the Romanian authorities recently demanded for the privatization file to be re-analyzed. In a press conference on Wednesday, the Austrian official focused on the future investment plans, designed to “develop Petrom and ensure Romania’s energy security”.

“There are not any unexplainable articles in the Petrom privatization contract”, said Wolfgang Ruttenstorfer. The Austrian state and International Petroleum Investment Company (IPIC) headquartered in Abu Dhabi hold 49% of the OMV shares and it’s impossible for other companies to hold shares through interims”, the OMV official said.

23 of the Petrom shares are held by various Austrian institutions, while the rest is marketed through stock exchanges in London and USA.