Romania to sell 26 pct stake in Rompetrol Rafinare this summer

Romania will auction in the summer a stake of 26% in oil refinery Rompetrol Rafinare with the starting price of $200 million, a government official said Wednesday.

“This summer we will launch the auction to sell the 26 percent package of shares. The 18 percent difference will remain within the State’s ownership”, according to Gabriel Dumitrascu, head of Privatizations in the Department of Energy.

According to sources quoted by Mediafax, there are several companies interested in the shares, including an arab company. At the moment, the Romanian state owns 44.69 pct of Rompetrol Rafinare. After the sale, the Government will retain 18% of the company.

Azamat Zhangulov, vicepresident of Rompetrol, said in January that the EUR 200 million price offered by KazMunai Gaz for the 26 percent stake is the “best possible” and the maximum the company from Kazakhstan would pay.

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