Kazakhstan, Astana, Feb. 9 / Trend A.Maratov /
The Romanian subsidiary of JSC KMG - Rompetrol - plans to introduce a new business model for the sale of oil products this spring, the Rompetrol Group Vice President on Trade Murat Jumadillayev told Trend.
"We intend to take the first step in transferring Petromidia Refinery to a new scheme for refining this March. That is, the plant will only receive a fixed margin for the processing and marketing of oil products. Our subsidiary trading company will sell oil products. This is a new business model which we intend to introduce," the said.
He said that Petromidia Refinery, which is the main production asset included in the Rompetrol Group, will cease to be the economic center.
He recalled that the trade subsidiary - Vector Energy - deals with supplying raw materials to refineries.
"Our trading subsidiary dealt with supplying Kazakh oil to the Petromidia Refinery. Basically, we brought raw materials from the port of Novorossiysk," he said.
Vector Energy was engaged in wholesale deliveries of oil products, produced at Petromidia to Georgia, Ukraine, and Bulgaria for Rompetrol subsidiaries.
"We will discuss the purchase of retail networks in this country together with the Trade House KMG, " he said.
He said that there are plans to buy filling stations in Ukraine.
The Rompetrol Group NV is a 100 percent subsidiary of KMG Processing and Marketing.
Rompetrol is a large holding company. Most of its operations and assets are located in France, Romania, Spain, and Southeastern Europe. The group is active primarily in refining and marketing downstream, with additional operations in exploration, production and other services for the oil industry. It owns two oil refineries - Petromidia and Vega - and some 630 gas stations in Europe (Romania, France, Spain, Moldova, Ukraine, Bulgaria, Albania, and Georgia).
The company owns a 25-percent share of the petroleum product retail sales market in Romania, a 3.5-percent share of the market in France, and a 1.5-percent stake of the market in Spain. Rompetrol works in 13 countries in service and trading.