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January 31, 2023

State to take over Arpechim refinery by April

The Romanian state will take over the Arpechim refinery by April at the latest, its negotiations with OMV Petrom being in the final stages, Arges County Prefect Gheorghe Davidescu stated for hotnews.ro, pointing out that he received the information at the end of last week. Gheorghe Davidescu claims that the negotiations were delayed by some public servants with the Ministry of Economy, not by the OMV Petrom representatives. Davidescu added that the next step after the takeover will be to privatize Arpechim along with Oltchim.  Petrom’s Supervision Council decided on March 24 last year to permanently shut down the Arpechim refinery and to pay the sacked employees approximately EUR 10 M in salaries, compensation payments and other social protection measures. According to a communiqué issued by the oil company, the decision is in line with Petrom’s strategy to maximize benefits and hike efficiency. Subsequently, following talks with MPs and local administration representatives from Arges and Valcea Counties, the Petrom representatives decided to postpone the move for six months in order to give the government time to find a solution to the problem, negotiations being consequently extended. The Arpechim refinery currently has a little over 600 employees, 259 of them receiving yesterday a 60-day termination of employment notice.

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