We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

KazMunayGas has invested $1 billion into Romanian Petromidia refinery over six years

DOWNSTREAM PROJECT MANAGEMENT

KazMunayGas has invested $1 billion into Romanian Petromidia refinery over six years

Kazakhstan’s national oil and gas company KazMunaiGas has invested about a billion dollars in the Romanian oil refinery Petromidia from 2007 to 2012, KMG International CEO Zhanat Tussupbekov said.

According to a study by US company Solomon in 2018, the Petromidia refinery ranks ninth among 250 refineries in Europe and Africa in terms of production of high-quality petroleum products.

“From 2007 to 2012, approximately $1 billion has been directed to Petromidia with roughly $450 million earmarked for revamping and increasing its annual capacity from 3.5 million to over 5 million tonnes of raw material,” Tussupbekov told reporters in Navodari, where the Petromidia plant is located.

In 2019, the refinery management expects to increase the refinery’s capacity to 6.1 million tonnes of crude oil.

Petromidia is the only Romanian refinery located on the Black Sea coast. It is supplied directly through the sea terminal at the port of Midia.

The plant is managed by Rompetrol, which is owned by KMG International.

Relevant news

CIS PETROCHEMICALS
Sibur will take part in PP and PE projects in Kazakhstan
Namely a polypropylene plant and a polyethylene production project (capacities of 500,000 and 1.25 million tons per year respectively)
CIS PETROCHEMICALS
Kazmunaygas and Tatneft set up joint venture for the production of polybutadiene
Kazmunaygas and Tatneft signed an agreement on the creation of Butadiene, a joint venture for the production of butadiene and its derivatives
CIS PETROCHEMICALS
Kazakhstan disclosed the volume of investments in joint projects with Sibur and Tatneft
Sibur, Samruk-Kazyna and Kazmunaygas signed a cooperation agreement in early October in regards to petrochemical projects in Kazakhstan
CIS PETROCHEMICALS
Kazmunaygas approves development strategy
The company plans to ensure growth throughmeasures that include modern energy-saving technologies and reduction of carbon footprint
DOWNSTREAM CENTRAL ASIA AND CASPIAN
Petchem production rose by 155% in Kazakhstan last year
Petrochemical production rose by 155% in Kazakhstan in 2020 compared to the previous year.
DOWNSTREAM CENTRAL ASIA AND CASPIAN
Sibur eyes 40% stake in Kazakh gas chemical complex
SIBUR, Kazakhstan’s national welfare fund Samruk-Kazyna, and KazMunayGas have signed a framework agreement for potential cooperation in petrochemical industry