KMG International invests USD 1.5 bln in Romania in 7 years

Oil group KMG International, the former Rompetrol Grup, has invested over USD 1.56 billion in Romania in the last seven years, with USD 600 million allocated for the environmental management, according to the company’s first sustainability report. It contributed to the state budget by over USD 3.2 billion in the last two years. The group processed over 33 million tons of raw material, 9.4 million tons of which were processed between 2013 and 2014. KMG International became the first local fuel producer which lined up to the Euro 5 emissions standard, in 2013. The group also complied with the environmental norms on the emissions of sulfur oxides, nitrogen oxides and particulates, according to the report. Between 2013 and 2014, KMG International recorded no accidents resulting in loss of lives. About 76% of the company’s employees are Romanian citizens. KMG International is the local subsidiary of the Kazakhstan state-owned oil company KazMunayGas. editor@romania-insider.com