Petrom, an oil and gas company, has launched a new power business unit to run all of its future power projects.

The establishment of the new business unit will bring a series of benefits to the administration of the power projects portfolio: streamlining of the decision making process, investments in line with the company’s global strategy, centralization of the power knowledge and a single interface for external partners.

The power business unit is subordinated to the company’s deputy CEO and is managed by Lacramioara Diaconu, who previously held the position of director of mergers & acquisition, capital market relations.

Werner Schinhan, Petrom’s deputy CEO, said: According to our strategy for 2010, which we reconfirmed in 2006, the company started activities in the power sector. We aim at both capitalizing the gas and power convergence – by building a gas fired power plant – as well as to initiate a series of projects which covers various types of energy: hydro, wind etc.

I believe Petrom can contribute to the increase of Romania’s energy independence, not only by securing the oil and gas reserves but also by increasing the number of renewable energy sources in the energy mix.