Rompetrol puts aside USD 100 mln for Romanian investments in 2014, changes management structure

Romanian oil and gas company Rompetrol, owned by Kazakh operator KazMunaiGaz, has budgeted USD 100 million for investments in Romania this year, with 10 percent of the funds to be directed to the Petromidia refinery. The rest will be invested in its chain of gas stations, according to Catalin Dumitru, vice-president on retail and trading. Rompetrol will open 15 new gas stations and will re-brand 60 units, with the development focus around Bucharest, as well as in the north – western and south – western parts of Romania. The group will also implement a new operating model, with a new managerial structure. The first line of management is represented by Senior Vice-President Azamat Zhangulov, who will continue to coordinate all corporate functions (corporate governance, support services) and financial functions, and Vice-President Catalin Dumitru, who is responsible for coordinating all operational activities, supply chain, trading, refining and petrochemicals, marketing and retail. "It was a very important decision in terms of reaching the company’s overall strategic goals to have the new operational model in place. The appointment of Mr. Catalin Dumitru reflects the human resources policy of the company, namely, to support and to promote the local specialists,” said Zhanat Tussupbekov, CEO of The Rompetrol Group. Dumitru has run the Dyneff company in the group for the last six years and has 12 years of experience in the oil and gas field. The team of managers under direct supervision of Catalin Dumitru are: Mihaela Ungar, Chief Marketing & Retail Officer, Alexandru Nicolcioiu, Chief Production Officer for refining and petrochemicals and Yerlan Akkenzhenov, Chief Trading and Supply Chain Officer. The Rompetrol Group is owned by the national oil and gas company of Kazakhstan - KazMunayGas, and is present in 12 countries, with most of the assets and operations in Romania, France, Spain and South- Eastern Europe. The Group is involved in refining, marketing and trading, exploration and production, oilfield services, EPCM transport, etc. At European level, The Rompetrol Group holds over 1,000 filling stations across Romania, France, Spain, Moldova, Georgia, Bulgaria, operating under the brands of Rompetrol and Dyneff. editor@romania-insider.com