OMV and Gazprom are negotiating an asset exchange involving operations in Romania controlled by the Austrian company through OMV Petrom, write some media outlets in Austria and Romania. According to unconfirmed information, OMV and Gazprom would have cut a deal by which the Austrian company will be able to access hydrocarbon deposits in Siberia in exchange for Petrobrazi refinery and involvement in operations OMV Petrom carries out in cooperation with ExxonMobil in the Black Sea.
The exchange of assets has different meanings for the two companies, emphasizes Daniel Apostol, Secretary General of ROPEPCA petroleum association. For OMV represents the expansion in operations run in the rich deposits of Siberia, but for Gazprom has a stronger strategic nuance, said Daniel Apostol at Realitatea TV.
“It’s good that the Energy Ministry is monitoring the situation, as it is the administrator of Romania’s holding in the company. OMV Petrom has a huge impact on the Romanian economy. It brings billions of RON at the state budget. On the economic chain, through collaboration with local suppliers of goods and services, maintains the entrepreneurial sector, and also is a very big employer. Why would OMV look for an expansion such as the one allegedly under scrutiny through an agreement with Gazprom? Because it allows access to rich deposits the Russians have in Siberia. Why would Gazprom want such an agreement? Because the most important energy company in the Russian Federation wants more power and control on the European market.”, said Daniel Apostol for Realitatea TV.
Waiving the refining asset would eliminate one of the advantages that OMV Petrom has in this agitated period for major producers, namely it would stop being an integrated oil company, stressed Daniel Apostol.
“We need to look the situation in another key. OMV Petrom is a Romanian company, business and capital are registered here, and it reinvests profits and pays taxes here. What is special at OMV Petrom is that it has integrated operations: does exploration, extraction, refining of crude oil and sells fuel. The assumption in this case is that a possible agreement with Gazprom would remove from thsi chain the refining assets, and this would upset the balance the company has in an extremely unbalanced era for the global production of oil.”, claims ROPEPCA representative .
“I am convinced that those that lead OMV Petrom have all the interest to retain its strong position, because the long term strategy is to participate in Romania’s energy security. If they lose the quality of an integrated company, they could no longer meet that goal”, concluded Daniel Apostol.