Romania, World: KazMunaiGas to sell its Romanian stakes, to China’s CEFC, by the end of June

Kazakhstan’s KMG (KazMunaiGas) seeks to sell its stakes in Romanian unit to CEFC by the end of June 2018.

Kazakhstan’s KazMunaiGas has postponed until the end of June 2018 the sale of 51 percent of its Romanian business KMGI to China’s CEFC, the company told an international news agency. In December 2016, KMG and CEFC signed an agreement to further implement this transaction.

Romanian Rompetrol Oil and Gas venture had become an overseas asset of Kazakhstan’s Kazmunaygas national Oil and Gas Company in 2009.

Earier last year, Romanian Ambassador to Kazahstan focused on bilateral relation between Romania and Kazahstan. Ambassador Armeanu was determined to promote and boost bilateral cooperation at all levels. This has acquired a particular importance following the visit of Romanian Minister of Foreign Affairs Teodor Viorel Meleșcanu to Astana and Karaganda, in July 2017, to celebrate the National Day of Romania at EXPO 2017 and mark the 25 years of diplomatic relations between Romania and Kazakhstan, home to nearly 20,060 ethnic Romanians.

Many things have changed since then in the KMG strategy.



Source: Reuters.


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