Rompetrol to invest USD 1bn in Ukraine.

By bne IntelliNews October 2, 2012
In the next five years, Rompetrol intends to invest USD 1bn in JV with Naftogaz Ukrainy to sell oil products in Ukraine, writes Kommersant-Ukraine newspaper, citing Andriy Kuzmenko, the head of the Rompetrol office in Ukraine. According to him, the companies are finishing registration of JV and Rompetrol intends to supply 350-400thsd tonnes of oil products to Ukraine next year. The creation of the JV was announced back in July. Now Rompetrol owns three refineries in Romania, as well as the European network of more than 1000 filling stations in Romania, Moldova, Bulgaria, Georgia, France and Spain. The company belongs to the state corporation Kazakh KazMunaiGas. The main supplier of petroleum products to the joint venture will be the Romanian refinery Petromedia, reaching 1.5mn tonnes in five years. Naftogaz, the Ukrainian national oil and gas company,controls 11% of Ukraine's petroleum products market via two producers - the Shebelinsky gas refinery, a subsidiary of Ukrghazodobuvaniya, and Azov Petroleum Company's Mariupol Oil Refinery. The company also has a network of fuel depots throughout Ukraine. One of its priorities is to enter the retail fuel market in Ukraine.
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