Friday, July 8, 2011

OMV Petrom Jumps After Reporting Gas Field Discovery in Romania

OMV Petrom SA (SNP) rose for a second day, heading for its best week in more than three months, after Romania’s biggest oil company said yesterday it discovered a natural-gas field in the southwest of the country.

The stock advanced as much as 3 percent and was trading up 1.5 percent to 0.411 lei as of 10:41 a.m. in Bucharest. Petrom extended this week’s advance to 7.3 percent, its biggest rally since the five days ended March 25.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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