Astana, Kazakhstan, March 17
By Daniar Mukhtarov - Trend:
The board of directors of the Rompetrol Group N.V. has decided to change the company's name to 'KazMunayGas International N.V.', the press service of Kazakh national oil and gas company KazMunaiGas (KMG) said on March 17.
"Changing Rompetrol's name is a part of KMG's strategy to promote a single group brand," KMG's managing director on external oil refining and marketing and general director of Rompetrol Group, Zhanat Tusupbekov said.
The 'umbrella' brand is a prerequisite for strengthening the group of companies' market positions under the 'KMG' brand name both within the country and for successfully entering foreign markets, according to KMG.
KMG's press service also said the change will also cover the group's central management unit - Rompetrol Group Corporate Center S.R.L., located in Bucharest, Romania. The company which serves as the group's corporate centre, will be renamed 'KMG Rompetrol'.
However the Rompetrol brand, used by the company in the retail segment will be preserved.
Romanian Rompetrol Group N.V. is a wholly-owned subsidiary of KazMunaiGas.
Translated by E.A.
Edited by S.M.