Romania was the first country in the world where petroleum production was officially registered in international statistics and the first country where a refinery was built, and Bucharest was the world’s first city to be publicly illuminated with kerosene.
Partial privatisation of Petrom led to the purchase of a majority share in the company by the former Austrian state company, OMV, in 2004. Foreign investment in the industry has gradually increased with the arrival of super-major, major, large to medium independent, and smaller companies, all of which have a role to play in the development of the country’s oil and gas resources.