Petrom sells stake in Russia's Ring Oil

Petrom, the largest oil and gas producer in South-Eastern Europe, has sold its 74.9-percent stake in Russia's Ring Oil to its minority partner Mineral and Bio Oil Fuels Limited (MBO), Petrom reports in a press release.The seller and buyer agreed not to release sale price and terms of the transaction.Johann Pleininger, member of Petrom Executive Board, responsible for Exploration and Production: 'Within the current economic environment and following a prioritisation of our ...

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