Rompetrol reorganizes its Albanian business, not excluding a possible sale

Rompetrol is undergoing a restructuring of its activities in the 13 countries in which it is operational, which will include the sale of non-core business companies, and the reorganization of any unprofitable business. Rompetrol group’s Deputy General Manager, Saduokhas Meralyiev, explained that the majority shareholder, KazMunaiGas, is considering closing down Rompetrol’s operations in Albania, but did not offer further details. According to information on the Rompetrol site, the group is involved in retail and wholesale activities in Albania, with nine existing gas stations and a plan for the construction of a further 40 stations. The group’s annual report indicated that Rompetrol Albania focussed in 2007 on retail activities, with sales of up to 739 tons of fuels, and the trade of diesel fuel three times higher than that of gasoline.

Rompetrol also has plans in terms of its oil and gas production, and exploration in five Romanian blocks, three of which “are promising.”