Oil and gas group borrows EUR 342 mln from Romanian lenders

Oil and gas companies Rompetrol Rafinare (RRC), Rompetrol Downstream, KazMunayGas Trading AG and KMG Rompetrol plan to borrow USD 390 million (EUR 342 million) from local lenders BCR, UniCredit Tiriac Bank, Raiffeisen and ING Bank. The four companies, which are part of the group KMG International, will use the funds to refinance loans and current operations, reports local MEdiafax. Last year, the Rompetrol Group rebranded as KMG International, taking the name of its Kazakh parent company. Kazakhstan’s national oil and gas company KazMunayGaz bought the Rompetrol Group in 2007 from Romanian entrepreneur Dinu Patriciu. editor@romania-insider.com