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Rompetrol Group renamed to KazMunaiGas International

17 march 2014, 19:09
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©focus-energetic.ro
©focus-energetic.ro
The Rompetrol Group is being renamed to KazMunaiGas International, Tengrinews reports citing KazMunaiGas (KMG), the national oil and gas company of Kazakhstan.

The Rompetrol Group N.V. board has already made the decision to change its name to KazMunayGas International N.V.. Zhanat Tusupbekov, KMG's managing director on external oil refining and marketing and general director of Rompetrol Group, explained that the "name change is a part of the KMG group strategy to promote itself as a single brand."

According to Tusupbekov, the umbrella brand is a necessity for strengthening of the group's market positions both inside the country and at foreign markets.

The company is also planning to reshuffle the groups top management - The Rompetrol Group Corporate Center S.R.L. based in Bucharest, Romania.

казахстанский национальный оператор по разведке, добыче, переработке и транспортировке углеводородов. 100 процентов акций компании принадлежит АО "Фонд национального благосостояния "Самрук-Казына".

"The company that executes the corporate center factions will be renamed to KMG Rompetrol. Rompetrol brand that is used by the company in the retail market is going to remain unchanged," KMG said.

KazMunayGas is Kazakhstan's state-owned nation operator for exploration, development, production, processing and transportation of hydrocarbons. It is 100% owned by Samruk-Kazyna Wealth Sovereign Fund.

The Rompetrol Group is solely owned by KazMunaiGas. The group operates in oil processing and sales of petroleum products in 12 countries. The Company is primarily concentrated on the Black Sea basin, notably Romani, wherein the Group owns 2 oil refineries. The Group also operates over 1100 fuel stations across Romania, Georgia, Bulgaria, Moldova, France and Spain.

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