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OMV’s Romanian Energy Trading Unit Starts Activity
04.15.2011
Austrian oil group OMV on Friday announced, without additional details, that its Romanian energy trading unit, OMV Trading, completed its first energy deal.
Austrian oil group OMV on Friday announced, without additional details, that its Romanian energy trading unit, OMV Trading, completed its first energy deal.
The unit, founded last year, will be active on the international energy markets, selling the electricity generated by Romanian power plants Brazi and Dorobantu. The two units have an overall capacity of some 900 MW and they will become operational this year, according to OMV.
Romanian state-owned hydropower producer Hidroelectrica said in January it will buy from OMV Petrom (SNP.
RO) all the energy produced by the Brazi thermal power plant in the testing period.OMV holds 51.01% in OMV Petrom, while the state holds a 20.63% stake and investment fund Fondul Proprietatea (FP.RO) holds 20.11%.