Bloomberg News

Romania’s Romgaz 2011 Profit Rises to $280 Million, ZF Says

May 29, 2012

Romgaz SA, Romania’s state-owned natural gas producer, said its net income rose last year to about 1 billion lei ($280 million) on higher sales, Ziarul Financiar reported, citing a company statement.

Romgaz’s total sales increased to 4.05 billion lei from a year earlier and the company plans to distribute most of last year’s profit to its shareholders, which include the Romanian Economy Ministry and Fondul Proprietatea SA (FP), the Bucharest-based newspaper said.

Romania’s government plans to sell a 15 percent stake in Romgaz this year on the Bucharest Stock Exchange. The company supplies about half the gas produced in the country, while the other half comes from OMV Petrom SA. (SNP)

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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