This acknowledgment recognizes management excellence in the entrepreneurial company, as assessed by international best practices
Bucharest, January 22nd, 2024 – OSCAR Downstream, the largest independent fuel distribution company in Romania, obtained the Deloitte „Best Managed Companies” certification, an initiative of Deloitte Private, thus joining the Romanian champions that take entrepreneurial excellence to international standards.
Best Managed Companies is a Deloitte Private program, developed in partnership with Banca Transilvania, the Bucharest Stock Exchange and the European Bank for Reconstruction and Development (EBRD). The program involves a rigorous assessment process based on an international methodology, and the Best Managed Companies certification is awarded by an independent jury.
This year’s jury consisted of Radu Hanga – President of the Board, Bucharest Stock Exchange; Cristian Popa - Member of the Board, National Bank of Romania; Cristian Nacu - Senior Country Officer, International Finance Corporation; and Profesor univ. Dr. Dorel Mihai Paraschiv - Deputy Rector, Academy of Economic Studies.
"It is an honor to be awarded this recognition, which confirms that OSCAR Downstream is a solid business and a reliable partner," Nicolae Bănică, CEO, says. "From the very beginning, OSCAR Downstream has been a challenger on the Romanian fuel distribution market. For over 22 years, we have been successfully competing with multinational companies and making our mark on one of the most competitive and strategic markets in the world. This was possible due to OSCAR’s committed alignment to international best practices and through continuous improvement. There were many confirmations throughout this evaluation process, but we also identified some homework to do and implement in such an important year, as 2024 is.”
One of the top 5 players in the fuel distribution market, OSCAR Downstream has more than 5,000 clients in its portfolio from key industries such as transportation, construction, industry or agriculture. The company has one of the largest fuel storage capacities in the country, of 70,000 cubic meters, and its own transport fleet of over 80 tankers.
This year, the company will strengthen its integrated logistics chain through a new Greenfield investment in its storage capacity, and extend its fleet to more than 100 tankers. OSCAR Downstream is also planning to continue the expansion on the retail market with its own gas stations, under the OSCAR brand, with the first units to be operational by the end of 2024.
About Romania’s Best Managed Companies awards
The Romania Best Managed Companies program is an awards program recognising privately held companies for their organisational success and achievement. The program provides a distinct framework for management teams to challenge themselves and benchmark against some of the best private companies in the world.
The Best Managed Companies program was established in 1993 in Canada and has become the most significant business award of its kind. The program is currently active in more than 45 countries in the Americas, Europe and across Australasia.
For more information on the awards program, visit the Romania Best Managed Companies website.
