July 31, 2014 / 3:38 PM / 5 years ago

OMV Petrom sells Congaz stake to GDF Suez Romania SA

BUCHAREST, July 31 (Reuters) - Romania’s OMV Petrom , owned by OMV of Austria, said on Thursday it sold its 28.59 percent stake in non-core gas distribution and supply company Congaz SA to GDF SUEZ Energy Romania SA for an undisclosed amount.

“The decision is in line with the OMV Petrom strategy to exit gas distribution and supply activities for end-consumers on the regulated market. We will continue to supply gas to our clients on the free market,” Cristian Secosan, a member of OMV Petrom’s executive board said in a statement.

The statement said the transaction will have a limited impact on the financials of OMV Petrom.

OMV Petrom is the largest integrated oil and gas group in southeastern Europe, with an annual oil and gas production of around 66 million barrels of oil equivalent (boe). The Group has a refining capacity of 4.2 million tonnes per year.

Reporting by Radu Marinas; editing by Keiron Henderson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below