KazMunaiGas International (KMGI), the former Rompetrol group, is currently negotiating to acquire a network of 100 gas stations in Spain, according to Economica.net.

The Chinese group CEFC has recently received the approval of the Romanian authorities to take over Rompetrol, and will most probably become the majority stakeholder in the company this fall.

KMGI focuses on the Black Sea and the Mediterranean Sea areas, and searches for ways to enter the Turkish oil products market. However, the company is also interested in entering European markets such as Greece, Italy and Spain, according to KazMunaiGas, the Kazakh state-owned group that is still the majority stakeholder in Rompetrol.

Following the deal with the Chinese group, KazMunaiGas will remain with a stake of 49% in KMGI. Rompetrol’s idea to expand has been around for a long time, but financing from the Chinese group will help make it happen.

Rompetrol becomes Chinese company

editor@romania-insider.com