Petrom invests €100 mln in new Bucharest service center


Petrom SA, Romania's biggest oil company, said it will invest as much as €100 million ($128 million) to build an accounting and computing center in Bucharest, the national capital. The center, to be built over the next few years, will provide accounting, computer and communications services for Petrom's exploration, production, refining, marketing, gas and chemicals units, the company said in a statement today. Petrom is presently owned by Austria's OMV AG with 51% of its shares, the Romanian State - 40.74%, the European bank for Reconstruction and Development – 2.03% and by minority shareholders – 6.23%. The Bucharest-based company said the center will increase the speed and quality of accounting and computer services and will employ 1,200 people, most of them currently with the company's computer and finance departments. The center will be the largest of its kind in southeastern Europe, Petrom CFO Reinhard Pichler said in the statement. He gave no timeframe for its construction. In order to consolidate our leadership position, to ensure the company’s future and to close the gap to standards, which are internationally competitive, we have entered a modernization process. This process is aimed at improving the operation costs and performance position of the company. Petrom sees an unprecedented capital for investment in the company’s core activities and operations, with around €3 billion to be invested until 2010. (Bloomberg,


Zwack Profit Climbs 8% Figures

Zwack Profit Climbs 8%

Parl't Approves Amendments to Legislation on Judiciary Parliament

Parl't Approves Amendments to Legislation on Judiciary

Magnus Aircraft Signs CNY 65 mln Order Deals

Magnus Aircraft Signs CNY 65 mln Order

Accommodation Fully Booked Over Pentecost Weekend Tourism

Accommodation Fully Booked Over Pentecost Weekend


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.