Romania’s state-controlled Oil Terminal (BVB: OIL) announced that it has initiated the procurement procedure for the contractor of the bitumen terminal to be built for its Swiss partner Euronova, which is financing the project and will hold exclusive exploitation rights for a period of 10 years. The service contract will guarantee an annual operation of  80,000 tonnes.

Euronova is a Swiss company specialising in trading oil and petroleum products in Eastern Europe. In addition to Geneva, it has offices in Novi Sad (Serbia) and Dubai (UAE). Their operations are focused on the Black Sea and Adriatic Sea corridors, making intensive use of Danube transport, according to Economedia.ro.

Euronova Energies has been involved in facilitating business transactions between Russia and Transnistria, adding a complex dimension to its relationship with Oil Terminal, according to Moldova Invest. This situation requires careful monitoring to ensure compliance with international and national regulations, the Moldovan portal commented.

“It is a strategic investment for Romania, but also for the future reconstruction efforts in Ukraine,” stated former energy minister Sebastian Burduja in November 2023, when the partnership between Oil Terminal and Euronova was sketched.

Regarding Euronova Energies, the Moldovan press has reported its involvement in fuel transactions between Russia and Transnistria.

iulian@romania-insider.com

(Photo source: Oil-terminal.com)