Wednesday, April 29, 2009

Petrom sees 2009 profit slightly up from 2008

BUCHAREST, April 29 (Reuters) - Romania's top oil and gas firm Petrom (SNPP.BX) expects 2009 net profit to edge up to 1.1 billion lei ($345 million), the company said on Wednesday.

Petrom, majority owned by Austria's OMV (OMVV.VI), also said in a statement following its general shareholders meeting that it would not pay a dividend for 2008.

Last year, Petrom recorded a net profit of just over 1 billion lei, 43 percent lower than in 2007. Earning were hit mostly in the fourth quarter due to falling oil prices and a provision for legal claims of employees. (Reporting by Marius Zaharia; Editing by Dan Lalor) ($1 = 3.190 lei)

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