State to earn RON 800 M by selling Rompetrol Rafinare shares

The Energy Ministry will earn RON 800.4 M this year by selling the package of Rompetrol Rafinare shares it owns, according to the ministry’s budget of revenues from privatizations in 2016. In July 2015, the Government approved the sale of the package of 26.7 per cent of Rompetrol Rafinare shares it owns.

The measure was included in the memorandum that the Romanian state signed with Kazakhstan’s KazMunaiGaz, Rompetrol’s majority shareholder. The memorandum stipulates the selling of this shares package, through open-call tender, for the minimum sum of USD 200 M. The Energy Ministry’s budget also stipulates revenues of RON 1.123 bln in dividends from companies that operate under its authority.

These revenues will be channelled to the state budget.

Related posts

President Iohannis promulgates national budget law

Nine O' Clock

President Iohannis warns Gov’t about European funds absorption: They should handle it more intensely, it’s money we can benefit from, that can be used for Romania’s development

Nine O' Clock

INS revises downwards GDP advance in first nine months of 2016 to 4.8 pct

Nine O' Clock