Petrom Takes the Best at the Romanian Commodity Exchange (RCE)

In the first semester of this year, there have been 666 auctions for commodity transactions valuing 624 million U.S. dollars, at the Romanian Commodity Exchange.

"The use of the RCE services has brought to the contracting authorities favorable margins of about 20 million dollars. These values are comparable to the ones in the first semester of the year 2003, which has been the best year in the RCE history", says Mircea Filipoiu, the general director of the commodity exchange. The total value of the RCE transactions in the last year has been of 1.29 billion U.S. dollars, 6 times more than in 2002.

At RCE there are auctions for computers as well as for toxic waste, some commercial societies’ stocks, spare parts and accessories, junk, stationeries, cars, insurances, planes, petroleum, gasoline, mixed base oil. They also sell and buy services like the elaboration of business plans and fusibility researches, consulting, catering, rentals, reparations and restoring.

CHIEF ACCOUNTANT. Petrom has been by far the most important of the RCE chief accountants, since the beginning of this year. The company has bought mixed base oil having a total value of 170 million U.S. dollars. The favorable price margin estimated by the RCE representatives is about 1.8 million U.S. dollars. The other procedures of buying and selling that Petrom did, value 614 million U.S. dollars.

The RCE also works with the help of seven territorial subsidiaries in Brasov, Cluj, Constanta, Craiova, Galati, Iasi and Ploiesti, which have contributed with transactions having a total value of 14.5 million U.S. dollars. There are to be built new subsidiaries in Oradea, Piatra Neamt and Timisoara.