OMV Petrom May Book $100 Million More Cost on Gas Law, ZF Says

Romania’s parliament approved two laws yesterday that ban natural-gas exports and create a consumption basket, which may prompt OMV Petrom SA (SNP) to book additional costs of $100 million, Ziarul Financiar reported.

Petrom, Romania’s biggest oil company, will have to drop the use of domestic gas at its Brazi gas-fired plant and include more expensive import gas in its consumption basket, which may boost costs at the plant, the Bucharest-based based newspaper said, citing its own calculations based on data from the country’s energy regulator.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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