





Biggest Romanian company increased nine-month profits by 48% despite financial crisis
In the first three quarters of 2007, Petrom obtained a net gain of 1.548 billion Romanian Ron. Petrom registered for the third quarter a net profit of 174.86 million euro, just 5% lower profit below the one registered in 2007 which went beyond what experts expected.
Several experts, questioned by Reuters estimated a decrease by almost 21% due to the fact that oil prices decreased and the value decrease of the refinery. Petrom's operational profit grew by 54% in the first nine months, to 689 million euro after in the similar period in 2007 it registered 1.633 billion Romanian Ron.
Petrom's main shareholder, OMV announced a profit increase of 26% in the first nine months, to 1.58 billion euro. The main causes that lead to a positive evolution were the high oil prices and the good evolution of the Romanian branch, AFP informs.