- Dividends distributed for 2012 in total value of around RON 1.6 bn
- Investment budget higher by 24% than in 2012: around RON 6.4 bn
- Appointment of OMV Petrom Supervisory Board members
OMV Petrom, the largest oil and gas producer in Southeastern Europe, announces the decisions adopted within the Ordinary General Meeting of Shareholders (OGMS) on April 22, 2013.
Distribution of dividends
Further to the Executive Board's proposal, OGMS approved the distribution of dividends to OMV Petrom S.A. shareholders registered with the shareholders registry at May 14, 2013 having a gross value of RON 0.028 per share. The total value of dividends that will be distributed starting with June 18, 2013 amounts to RON 1,586 mn.
Investment budget higher by 24% than in 2012
OGMS approved the revenues and expenditures budget for the financial year 2013 of OMV Petrom S.A. prepared according to International Financial Reporting Standards. Therefore, the investments estimated by the company amount to RON 6,446 mn, 24% higher than the investments budgeted in 2012. Most of the investments, namely 80%, are destined for Exploration and Production activities and will allow us to capitalize on growth opportunities via exploration works and exploration license acquisitions. Refining and Marketing activities will receive17% of the budget while 4% will represent the investments in Gas and Power, Solutions, Corporate and other. OMV Petrom invested in the last 8 years around EUR 9 bn, respectively around 86% of the operational profit and continues to be the largest investor in the Romanian energy sector.
Appointment of OMV Petrom Supervisory Board members
Given the fact that the current mandate of the Supervisory Board expires on April 28 2013, the following members of the Supervisory Board of the company were appointed, for a period of 4 years, respectively until April 28, 2017:
- Gerhard Roiss - President of OMV Petrom Supervisory Board. CEO and Chairman of the OMV Executive Board (as of April 1, 2011).
- David Charles Davies - Deputy Chairman of OMV Petrom Supervisory Board. Chief Financial Officer and Deputy Chairman of the Executive Board of OMV, Managing Director of OMV Solutions GmbH.
- Manfred Leitner - Member of OMV Petrom Supervisory Board. Member of the OMV Executive Board, responsible for Refining and Marketing (as of April 1, 2011).
- Jaap Huijskes - Member of OMV Petrom Supervisory Board. Member of the OMV Executive Board, responsible for Exploration and Production (as of July 1, 2010).
- Hans-Peter Floren - Member of OMV Petrom Supervisory Board. Member of the OMV Executive Board, responsible for Gas and Power (as of March 1, 2012).
- George Baesu - Member of OMV Petrom Supervisory Board. President of the National Authority for Property Restitution.
- Dan Lucian Vladescu - Member of OMV Petrom Supervisory Board. President of the National Authority for Regulation and Monitoring of Public Procurement.
- Mark Mobius - Member of OMV Petrom Supervisory Board. Executive Chairman of Templeton Emerging Markets Group.
- Riccardo Puliti - Member of OMV Petrom Supervisory Board. Managing Director in charge of the Energy and Natural Resources sectors within EBRD.
Petrom Group
Petrom is the largest oil and gas group in Southeastern Europe, with activities in the business segments of Exploration and Production, Gas and Power as well as Refining and Marketing. The Group consolidated its position on the oil market in Southeastern Europe following a far-reaching modernization and efficiency increase process whereas investments accounted for more than EUR 8.8 bn during the last eight years.
As of the end of 2012, the Group exploited proved oil and gas reserves of approximately 775 mn boe in Romania and Kazakhstan (thereof 750 mn boe in Romania). With a maximum annual refining capacity of 4.2 mn t, Petrom is present in the distribution market for oil products in Romania, the Republic of Moldova, Bulgaria and Serbia through a network of approximately 800 filling stations, operated under two brands, Petrom and OMV. In Romania, this activity is performed through OMV Petrom Marketing, 100% owned by OMV Petrom.
For its sustainable development, Petrom has expanded the gas value chain into power. In this context, Petrom started commercial operations of the 860 MW gas fired power plant at Brazi and at the Dorobantu 45 MW wind park.
In 2012, the Group's turnover was EUR 5,891 mn, EBIT was EUR 1,270 mn.
OMV, Austria's largest listed industrial company holds a 51.01% share in OMV Petrom. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. In Gas and Power, OMV sold approximately 437 TWh of gas in 2012. In Refining and Marketing, OMV has an annual refining capacity of 22 mn t and approximately 4,400 filling stations in 13 countries including Turkey as of the end of 2012.
The Ministry of Economy holds 20.64% of OMV Petrom shares, the Property Fund holds 20.11%, the European Bank for Reconstruction and Development 1.62% and 6.62% is free float on the Bucharest Stock Exchange.
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