BUSINESS

Rompetrol enters Turkish market with resources from Petromidia

Rompetrol plans to go on the Turkish fuel oil market, characterized by a 4% annual growth, with the help of additional volumes refined by Petromidia, the largest oil refinery in the country, which has increased its capacity to 5 million tons per year following USD 380 million investments, according to zf.ro. The Kazak Group owners’ strategy is to be visible on the distribution segment in every state within the Black Sea area. “We want to bring fuel oil to Romania primarily, because it is the country that produces it and it is the fair thing to do. Export markets will be the ones we are currently involved in: Bulgaria, Georgia, the Republic of Moldavia and the Ukraine, as well as new markets such as Turkey. I believe we can also be successful in exports by opening gas stations in each of these countries. We have no gas stations in Turkey, but we are currently working on a program to improve our visibility there”, Senior Deputy Chairman of Rompetrol Group, Azamat Zhangulov stated without further details. Zhangulov had previously stated that Rompetrol is considering expanding to Turkey through taking over networks or building them from the ground up. The company’s strategy is aimed at developing the network throughout the entire Black Sea area in order to ensure increased production for the Navodari refinery. Rompetrol will invest USD 200 million in the following five years to open around 150 gas stations in Romania, where it is currently the second largest distributor with a network of over 400 gas stations. Another 200 gas stations will be opened in Bulgaria, the Republic of Moldavia and Georgia.

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