KazMunaiGaz, Romania negotiate on Rompetrol claim.

By bne IntelliNews March 21, 2011
KazMunaiGaz is negotiating with the Romanian government to buy back the 44.7% stake in refinery Rompetrol Rafinare, assigned to the government under a debt-for-equity swap, Wall-Street reported. Rompetrol Rafinare CEO Dimitri Grigoriev said that the negotiations with the government are advancing in the right direction. Rompetrol Rafinare attempted a debt-for-equity swap last year and offered the state a 44.7% participation. The state, however, challenged the move in court and insisted on a full payment in cash. KazMunaiGaz is a majority owner of Rompetrol Rafinare through the Holland-registered Rompetrol Group.
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