Petrom scored in the third quarter a net profit of 1.175 billion lei, thus doubling the nine-month result to 2.919 billion lei versus 1.421 billion lei in the same interval of 2010.

According to the group's quarterly report, Petrom saw sales reach 16.22 billion lei between January and September, therefore go up by 23 percent year-on-year. In the third quarter, they stood at 5.95 billion lei, up 24 percent.

Earnings before interests and taxes grew by 87 percent to 3.75 billion lei and the net financial result reached the negative value of -226 million lei versus -308 million lei last year.

Petrom is the largest oil group in South-Eastern Europe. The group invested over 6.6 billion euros during the last six years. The reserves exploited in Romania and Kazakhstan stand at 832 million barrels equivalent oil and the annual nominal refining capacity is of 4.5 million tons.

Read more on Money.ro