KMG to keep supplying oil to its Romanian refinery as usual - company

ALMATY. Oct 7 (Interfax) - Magzum Mirzagaliyev, CEO of Kazakhstan's KazMunayGas (KMG). has assured Romanian Energy Minister Virgil-Daniel Popescu that the company will continue oil supplies to the Petromidia refinery as usual, KMG said on Friday.

At a meeting with the Romanian Energy Minister in Astana, KMG head Mirzagaliyev reaffirmed the company's commitment "to supply oil for the needs of the Petromidia refinery as usual," according to the press release.

"This year marks 15 years since KazMunayGas acquired the Rompetrol group of companies, now KMG International. This acquisition and further investment in Rompetrol remains the company's largest foreign investment to date. We are closely following Rompetrol's business development and regard this asset as strategically important," Mirzagaliyev said.

The parties discussed cooperation in oil refining, production of petroleum products, oil supplies to KMG's Romanian refineries, prospects for the development of KMG International assets, and reducing carbon emissions.

Petromidia is the largest refinery in the country and one of the most advanced oil refineries in Eastern Europe. Petromidia processes crude oil with high sulfur content to produce Euro-5 oil products. The refinery has the highest yield of light products in the region at 85% and ranks 9th among the 250 refineries in Europe and Africa.

KMG International, formerly Rompetrol, was bought by KazMunayGas in 2007. KMGI owns two refineries in Rumania, Petromidia, and Vega, as well as a chain of filling stations in the EU countries.

KazMunayGas is the national operator for the exploration, production, processing, and transport of hydrocarbons. The company represents the state interests in the oil and gas sector of Kazakhstan. KazMunayGas is owned by Samruk-Kazyna National Wealth Fund with 90.42%, and by the National Bank of Kazakhstan with 9.58%.