BUCHAREST - Romania's largest oil and gas group, Petrom which is majority owned by Austrian OMV, is planning a 1 billion euro ($1.44 billion) increase in its share capital, a government source said on Friday.

(Petrom's) capital hike might amount to some 1 billion euros, the source told Reuters, adding the government was willing to participate. (Reporting by Luiza Ilie; Writing by Marius Zaharia; Editing by Dan Lalor) ($1 = 0.6949 euro)