Romanian Prime-Minister to visit Kazakhstan

Kazakhstan Secretary of State Marat Tazhin met with Ambassador Extraordinary and Plenipotentiary of Romania to Kazakhstan Nicolae Ureche, Tengrinews.kz reports citing the official website of Kazakhstan President. “The meeting covered further enhancement of cooperation between the two countries. The parties stressed the importance of the visit of Romanian Prime-Minister to Kazakhstan scheduled for the second half of this year. The coming talks will allow to take interaction in investment projects to a higher level and expand the contractual legal framework,” the president’s press-service writes. In February Kazakhstan and Romania signed a memorandum of understanding on disputes settlement with Rompetrol Rafinare that involved Rompetrol company and the government of Romania. According to the terms of the signed memorandum, Rompetrol will buy out from the government a 44.69-percent stake in Rompetrol Rafinare (owner of Petromidia and Vega oil refineries in Romania), thus getting a full control over the company. The Romanian government will retain the status of a minority shareholder of Rompetrol Rafinare. Kazakhstan's KazMunaiGas purchased Rompetrol group in 2007. The company’s main directions include oil processing, marketing and sales of oil products. Rompetrol owns and operates three oil refineries in Romania, as well as a European network of over 1,000 petrol stations (in Romania, Moldova, Bulgaria, Georgia, France and Spain). Rompetrol operates in 12 countries, its personnel counts at 7.5 thousand people. The company's turnover made $6.8 billion in 2011.