SNP Petrom SA I
Romania | Energy- Identification Code:
- OP/01/0268
- Total Operation Cost:
- 150.000.000 USD
- Maturity:
- 96 months
- Operation Status:
-
BSTDB Approved Amount – Approval Date10.000.000 USD – 07 Jun 2002
-
BSTDB Signed Amount – Signed Date10.000.000 USD – 01 Aug 2002
-
Status:Completed
- Description and Purpose of the Operation:
- SNP Petrom is a vertically integrated oil and gas company, with core operations in Romania, and increasing international involvement in Kazakhstan, Hungary, India and Moldova. Petrom was established as the 'flag-ship' of the Romanian oil industry in 1997, and is 93% owned by the Romanian government. Privatisation is possible in the near future as a result of the forthcoming restructuring of the Company. Petrom has ambitious an investment programme, which has been partially funded by a successful international bond issue at the end of 2001. The operation involves the provision of US$10 million long-term unsecured financing to support the restructuring and pre-privatisation process of the Romanian largest oil company. BSTDB's loan is for a term of 8 years. Additional financing of up to the amount of USD 140 million is provided by the European Bank for Reconstruction and Development and a group of commercial banks.
- Countries of Operation:
- Romania (100,00%)
- Financial Product:
- Loans
- Sector:
- Energy
- Domain:
- Private
- Borrower/Client:
- Societatea Nationala a Petrolului Petrom S.A.
- Co-Financers/Participants:
- Parallel Financing with EBRD
- Guarantors/Sponsors:
- —
- Developmental and Regional Cooperation Impact:
- The financial facility is to support the SNP Petrom modernization programme, which carries a strong environmental impact and convergence with EU standards. It is expected that the successful completion of the programme will significantly improve the efficiency of the Romania leading state-owned industrial company
- Environmental Classification and Impact:
- An environmental audit and environmental review was carried out by an independent environmental consultancy firm commissioned by EBRD. The review shows that Petrom has made significant progress in its environmental affairs in recent years by the establishment of an environmental group and proven willingness to invest in further environmental improvements.
- Operation Leader:
- Energy & Infrastructure
- E-mail:
- ei@bstdb.org
As of 28 Feb 2026
