Daily News for Energy & Environment

Romania: Deal between the state and KazMunaiGaz could fall apart

Romania’s Energy Ministry will not extend the 2013 Memorandum with KazMunaiGaz, the owner of Rompetrol Rafinare, the country’s biggest oil refiner, if the Anti-Organized Crime Directorate (DIICOT) sends to court the Rompetrol 3 criminal case, energy minister Toma Petcu said Thursday.

KazMunaiGaz will have to pay its debt to the state in order to prove its good faith.

The parliamentary committee investigating the National Authority for Energy Regulation (ANRE) heard Petcu yesterday. The last article of the 2013 memorandum provides that the commitments taken over by the two parts cease if there is a legal conflict between them.

“If the case is sent to court, the memorandum falls,” the minister explained, reports Profit.ro.

Romanian prime minister Mihai Tudose and other government members met with KazMunaiGaz representatives on Friday to discuss about the memorandum. The Romanian government told KazMunaiGaz that in order to extend the Memorandum the company needs to pay its historical debt to the Romanian state and the judiciary needs to settle the case.

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