Petrom puts off plans to retool Petrobrazi refinery for two years

Petrom oil company, held by Austrian OMV group will put off the completion of modernization works at Petrobrazi refinery for two years, until 2012, the company saying in a prior statement that the works would be completed in 2010, said the CEO of Petrom, Mariana Gheorghe.The postponement, Mariana Gheorghe added, is due to the poor market conditions triggered by the current financial crisis. “The year 2009 will be a great challenge. We expect ongoing pressures exerted on the price of crude ...

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