OMV Petrom Said to Be Seeking Buyer for Wind Park in Romania

, Investors

OMV Petrom SA is preparing plans to sell its sole wind park in Romania as the country’s largest oil company sheds businesses not related to its core activities and crude prices fell, said two people familiar with the plan, as quoted by Bloomberg.

The sale of the wind park, completed in 2011 at a cost of EUR 90 million, is also part of Petrom’s broader plan to cut costs, according to the people who asked not to be identified because the information isn’t public yet. OMV AG, the Austrian parent company of Petrom, declined to comment.

“At the beginning of 2015, the company announced a number of measures in response to the challenging oil-price environment, including portfolio optimization and potential divestments,” Petrom’s press office said by e-mail. “The initiatives are still in assessment phase.”


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