COMPANIES ECONOMY ENERGY

PM Grindeanu tells KazMunayGas officials his cabinet very much open to investment in Romania

At a meeting on Monday at the Government House with officials of Kazakhstan’s state-run oil and gas corporation KazMunayGas, Prime Minister Sorin Grindeanu reconfirmed his cabinet’s openness to investment in Romania, according to a Government release.

The Romanian Government says in a press statement that also attending the meeting were executives of the corporation’s KazMunayGas International branch and of China Energy Company Ltd. (CEFC), the future main shareholder in KazMunayGas International.

“We are very much open to all that means investment in Romania; we have already proved that by the measures we have taken, and I can assure you that we will have the same openness in the future as well,” Grindeanu is quoted as saying in the statement.

In their turn, the Kazakh and Chinese officials commended the Romanian Government for what they called a positive approach by the Romanian Government, voicing interest in cooperation being developed in various areas, including energy, infrastructure, finance and banking.

The release also says the KazMunayGas International execs unveiled the development plans of the company in Romania and the region.

Fully-owned by KazMunayGas, KazMunayGas International operates in 11 countries, controlling Romania’s oil refineries Petromidia Navodari (Romania’s largest such refinery) and Vega Ploiesti (Romania’s oldest operating refinery), as well as fuel distribution chains (Rompetrol) in Romania, Bulgaria, Moldova, Georgia, France and Spain.

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