Romanian transporter signs oil delivery contracts worth EUR 80 mln with LukOil, OMV Petrom

Romanian state-owned oil transporter Conpet has won a EUR 9.5 million contract with oil and gas producer and retailer LukOil to transport imported crude oil to its Petrotel refinery in Ploiesti, Romania. Conpet announced the contract on the Bucharest Stock Exchange, where its shares are currently floating, with a market capitalization of some EUR 107 million.

The transport contract covers the full year 2015 and was signed on December 23.

This is the second such contract signed by Conpet in December, after the one with OMV Petrom, worth some EUR 70 million. That contract, also valid for 2015, covers the transport of crude oil, rich gas and condensate.

In November, Romanian investment fund Fondul Proprietatea (FP), which is managed by American group Franklin Templeton, sold a 23.6% stake in Conpet Ploiesti via a private placement.

The fund got EUR 22.5 million from this sale, according to an announcement made on Bucharest Stock Exchange (BVB).

Conpet is majority owned by the Romanian state via the Economy Ministry, which holds 58.7% of the shares.

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