Romanian OMV Petrom Sold Green Certificates For EUR37M In 2010

05.01.2011 By Andrei Circhelan

Romanian leading oil company OMV Petrom (SNP.RO) sold 57% of the green certificates it received last year, at an estimated price of EUR37 million.

"OMV Petrom is the only company from Petrom Group included into the emission certificates allocation scheme. Under this scheme, OMV Petrom received a total of 4,650,862 free emissions certificates for the year 2010," the company said in its annual report.

From the certificates received, the company sold 2.65 million units last year.

Considering an average price of EUR14 per unit, Petrom collected some EUR37 million.

The company is owned by Austrian oil and gas group OMV.

Under the Kyoto protocol, one green certificate allows the bearer to emit one ton of carbon dioxide.

Companies active in Romania can issue a total 379.72 million tons of carbon dioxide by 2012.