OMV Petrom Completes Modernization of Fuels Terminal in Bacău

Romania-based OMV Petrom completed the €18-million modernization of the fuels terminal in Bacău, while planning to build three new terminals and modernize other three terminals. 

“A modern terminals network will help us to reduce costs and increase the efficiency of our activities while continuing to supply our clients with products of the highest European standards. So far we have invested a total of around EUR 100 mn in the construction of three new terminals in Jilava, Brazi and Işalniţa, and the modernization of the Bacău terminal," Neil Anthony Morgan, member of OMV Petrom Executive Board, commented in a note released on Tuesday.

According to the largest oil and gas producer in Eastern Europe, the terminals have a total storage capacity of 65,000 m³.

OMV Petrom is a subsidiary of Austria’s OMV. 

In 2013, Romania reported a year-on-year increase in hydrocarbon production for the first time since Petrom’s privatization in 2004. The country also stepped up its efforts to increase efficiency, pushing forwards a series of interconnectors with Bulgaria, Moldova, Hungary and Serbia.