Romanian state wants to re-open case against large refinery owner

The Romanian state wants to re-open the case against kazakh-owned local company Rompetrol Rafinare - the owner of the largest oil refinery in Romania - Petromidia.

The case was closed by the Directorate for Investigating Organized Crime and Terrorism (DIICOT) last December due to lack of grounds for indictment.

The Authority for State Asset Management (AAAS) has challenged the closing of the Rompetrol file by DIICOT, according to an answer sent by the institution at request.

"The complaint against the prosecutor [who decided to close the file] was filed with the General Prosecutor's Office - DIICOT, the organized crime fighting section," sources within the authority told Adevarul daily.

DIICOT has already lifted most of the measures imposed against KMG International (the majority shareholder of Rompetrol Rafinare), Oilfield Exploration Business Solutions and Rompetrol Rafinare, maintaining a distraint on USD 106 million.

Last December, DIICOT closed the criminal investigation against Rompetrol Rafinare and its parent-group KazMunayGas International (KMGI).

In May 2016, The DIICOT put under distraint KMGI’s stake in Rompetrol Rafinare and other assets worth around EUR 600 million.

On December 5, 2019, DIICOT decided to drop the charges and lift the majority of precautionary measures against Rompetrol Rafinare and KMGI.

The case is related to the privatisation of Rompetrol Rafinare and the conversion into shares of bonds previously issued by the refinery in exchange for debts to the state.

(Photo: KMG International Facebook Page)