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#3 (81), june 2013Rompetrol
The Government of Romania approved the final conditions of debt adjustment of the holding The Rompetrol Group (TRG), which is fully controlled by the national oil and gas company KazMunayGas. The press-service of the MIA RK reports about it.
«According to achieved agreements, the company Rompetrol purchase shares of oil refinery enterprises on the territory of Romania. A respective draft law was sent to the parliament of the country for ratification», – is reported, in particular, in the press-release of the Ministry. It is noted in it that the key basis of the deal was the decision about establishment of a Kazakhstani-Romanian investment fund with the total capitalization amounting to 1 billion dollars.
This fund «will strengthen strategic partnership between Kazakhstan and Romania; will ensure growth of consumption of Kazakhstani energy resources in Black sea region and European Union». «Our main interest is that Romania would remain an important country for Kazakhstan, a strategic partner for KazMunayGas for investments», – the words of the Prime Minister of Romania Victor Pont are cited in the press-release. According to the data of the MIA, the total volume of investments of TRG in 2007-2012 exceeded 2 billion dollars. JSC KazMunayGas for the first time acquired 75% of shares of the Romanian holding in 2007, thereby having gained an access to two oil refinery plants and to a large network for oil products distribution. In 2009 KazMunayGas purchased 25% shares of TRG more, which earlier had been belonging to the company Rompetrol Holding S.А. and became 100% owner of the share portfolio of Rompetrol.