DOCSLIB.ORG

KMG International Economic Impact Assessment

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
KMG International Economic Impact Assessment PREPARED BY THE BUCHAREST UNIVERSITY OF ECONOMIC STUDIES KMG International Economic Impact Assessment Executive Summary 4 About KMGI 8 Contribution to Energy Security 14 Economic Impact 22 Support to Communities 28 Appendices 33 Executive Summary 6 KMG INTERNATIONAL - ECONOMIC IMPACT ASSESSMENT NC “KazMunayGas” JSC (KMG) is the the Strategy acknowledges a high dependency of EU’s refining industry of Russian crude oil, as well national operator for exploration, as increased challenges of the EU refining sector to production, refining and transportation remain competitive, a fact which is evidenced by the of hydrocarbons in Kazakhstan, with reduction in refining capacity and foreign investment. operations in Europe and Central Asia. Competitiveness and sustainability of the refining industry and reducing dependency of crude suppliers by diversification of crude sources become of outmost importance to ensure secured and sustainable supply, KMG entered the Romanian market in 2007, through as well as affordable market prices for fuel products. the acquisition of Rompetrol Group N.V, later renamed into KMG International N.V. In Romania, the oil & gas industry has known an explosive growth between 1960 and 1980, when As of December 2015, KMG International (KMGI) five major refineries were built. These resulted in a comprises 55 entities, headquartered in 16 countries processing capacity which exceeded the national (i.e. Romania, The Netherlands, Kazakhstan, consumption and production of crude oil. As such, Switzerland, Bulgaria, Republic of Moldova, Georgia, the industry was heavily dependent on the import of Turkey, Ukraine, France, Spain, Singapore, Libya, Iraq, crude, from OPEC members and Russia, and on the Oman, Gibraltar). export of refined products on external markets, which KMGI’s activities include trading of crude oil, oil were however dominated by integrated international refining, retail and marketing of oil products in players. Romania and countries in the Black Sea Region. The refining sector has declined during 1980-1990, as Given the ownership structure, KMGI is acting as an a result of Romania’s intention to pay its foreign debts integrated company enjoying direct access to crude and subsequent interdiction of foreign exchanges. from Kazakhstan, as well as funding for strategic In order to revive the sector, in 1997 the National investments and working capital. Society for Petroleum (SNP) was set up as state owned Throughout 2007-2014, KMGI implemented successive integrated company, taking over the exploration modernization programs of its refining assets, logistic activities, as well as two refineries and an extended infrastructure, as well as for the extension of its distribution distribution and storage network. SNP become the network accounting more than USD 1.6 billion. single most integrated oil & gas company of Romania. As a result of the investment efforts, currently KMGI On the other hand, the remaining stand-alone owns one of the most complex and productive refineries were opened for privatization. The refineries in the South East Europe - the Petromidia privatization of SNP followed later on, being called for Refinery, next to the Vega Refinery, the only Romanian in the context of Romania’s accession to the EU. producer of polymer – modified road-use bitumen, The privatization process of Romanian refineries took n-hexane, as well as niche products (solvents, place between 1999 and 2004, with investors receiving environmental – friendly heating fuels). various benefits such as exemption for payment of KMGI’s distribution network includes over 1,100 fiscal debts and environmental liabilities, and in the distribution points in Romania, Moldova, Georgia, case of SNP stability of exploration taxes and royalties. Bulgaria, France and Spain. However, due to international evolutions in the oil&gas sector affecting the price of crude oil, as well as due to lack of integration and access to funding Contribution to for retechnologisation investments, only four of the Energy Security Romanian Refineries are currently still being operated The European Union’s energy policies seek to ensure by three major oil companies. reliable provision of energy whenever and wherever KMGI’s refining capacity, through Petromidia and Vega, needed, a competitive environment that ensures represents 44.6% of the total operational processing affordable prices for homes, businesses, and industries, capacity of Romania. Moreover, KMGI is able to cover 70% as well as to make energy consumption sustainable. of the current internal demand for diesel and gasoline, According to the European Energy Security Strategy, by sourcing crude from Kazakhstan to its highly versatile currently Europe has sufficient refining capacity to refinery in Petromidia. meet overall demand for petroleum product. However, According to the draft version of the National Energy EXECUTIVE SUMMARY 7 Strategy (February 2016), it is estimated that the accounted for 1% to 1.2% of the national Gross national oil reserves can cover internal demand for the Domestic Product (GDP) in the period 2013-2015. following 20 years. In order to preserve the national KMGI’s contribution to GDP includes direct, indirect resources, imports of crude carry a vital weight in and induced Gross Value Added (GVA) as well as Romania’s energy strategy as well as diversification of indirect taxation of production. sources, suppliers and routes. The total foreign direct investment of KMGI Unlike neighboring countries such as Hungary amounts to USD 1.6 billion of equity participation or Bulgaria, who are heavily relying on a single and loans placed in its Romanian entities during source of crude, in addition to its own national 2007-2011. This proved to be of critical importance resources, Romania has access to crude from for maintaining and further developing the Russia, as well as Kazakhstan. activities of two of the four main refining units in Romania, in a period marked by the financial crises KMGI’s imports from Kazakhstan cover approximately and reduced inflows of FDIs in Romania. 40% of Romania’s refinery intake. In addition, KMGI contributes to the import-export KMGI has a significant contribution to secure balance of Romania, by importing crude and Romania’s diversity of crude oil supplies and thus, to exporting secondary, high value refined products reduce vulnerability in case of an energy disruption. accounting for more than 4% of the value of exports of Crude oil reserves in Tengiz and Kashagan which stand the overall manufacturing industry in Romania. as Kazakhstan’s biggest oil producing fields can further expand sources available for Romania. KMGI is one of the biggest employers in Romania supporting directly 4,772 jobs. For each workplace In addition to the direct access to crude, KMGI is created within KMGI, an additional 2.25 workplaces making its contribution to ensuring regulated safety are created within the economy. stocks. As one of the biggest oil companies in Romania, KMGI ensures the second largest stock reserves of KMGI generates high quality employment, by fostering crude oil and petroleum products. competences of its employees, as well as focusing on their health and safety. The Group is growing a talent One of KMGI main objective is full compliance pool of experts and leaders who benefit of customized with the European Union and international support to develop their careers and to be exposed to environmental legislation. Between 2013 and 2015, international activities and projects. KMGI allocated approximately USD 90 million to address European fuel standards, legal aspects and KMGI employs a group of highly specialized workforce environmental protection. with reduced options for comparable professional reconversion, especially in the SE region which presents unemployment level exceeding national Economic Impact averages. The Group is also keen on supporting young talent (aged below 35 years), which is one of Given the nature and extent of its operations and the categories most affected by unemployment in activities, KMGI plays an important contribution to the Romania. All employees are included in performance economic growth of Romania. and career programs. KMGI is the third largest taxpayer in Romania, its Not the least, KMGI fosters multicultural diversity contribution to the national budget ranging from 2.5% through various employees’ events, such as Sports to 3% of the total Government revenues between Academy, Kazakh Film Festival or Asian New Year. 2013 and 2015. KMGI’s contribution to Government revenues, in the same period, may have accounted for the construction of 16,466 kindergartens, 10,466 Support to schools or 48 hospitals. Communities Furthermore, KMGI is authorized by Romanian authorities to operate production tax warehouses. This KMGI implemented in Romania a number of initiatives has an overall positive impact on administrative cost aimed at raising the standards in the areas of for tax collection, as the tax warehouse represents a environment, health and safety, culture, education and single and controllable point generating a predictable leadership. KMGI annual programs such as “Together value of due excises. for each and everyone”, partnership and sponsorship programs and initiatives driven by employees KMGI’s activities and investments in Romania amounted to more than USD 1.5 million/year. About KMGI 10 KMG INTERNATIONAL - ECONOMIC IMPACT ASSESSMENT Integrated State-Owned Company International Operations NC “KazMunayGas” JSC (herein after
Load more

Recommended publications
  • Rompetrol Rafinare Sa Current Re
    No. 3652/ 30 June 2021 To: Financial Supervisory Authority Bucharest Stock Exchange From: ROMPETROL RAFINARE S.A. CURRENT REPORT prepared according to Law no. 24/2017 on issuers of financial instruments and market operations and the F.S.A. no. 5/2018 on issuers of financial instruments and market operations Report date: 30 June 2021 ROMPETROL RAFINARE S.A. Head office: Navodari, 215 Navodari Boulevard, Administrative Building, Constanta County Phone number: 0241/506100 Fax number: 0241/506930; 506901 Serial number in the Trade Register: J13/534/1991 Unique Registration Code: 1860712 Subscribed and Paid-in capital: RON 4,410,920,572.60 Regulated market on which securities are traded: Bucharest Stock Exchange (RRC market symbol) Important event to report: Signing of related documents for the extension until October 28th, 2021 of Facility C in the amount of USD 75 million, component part of the existing Credit Facility in the amount of USD 435 million ROMPETROL RAFINARE S.A. (hereinafter referred to as “the Company” or “RRC”) informs the Shareholders and Investors that on 30 June 2021 it extended the duration until October 28th, 2021 and amended accordingly a multicurrency credit facility (USD, RON, EUR) in the amount of USD 75 million (Facility C), component part of the Credit Facility concluded on April 23, 2015, with subsequent amendments and completions (“Existing Credit Facility Agreement”), in the total amount of 435 million USD. The extension of Facility C within the existing USD 435 million Facility was arranged by the following banks as Mandated Lead Arrangers and made available by ROMPETROL RAFINARE SA 215 Năvodari Blvd.
    [Show full text]
  • 021/305.77.45 KMG International, Exceptional Results in the First Nine
    October 21st, 2015 Contact: Bogdan Urzică Tel: 021/305.77.45 KMG International, exceptional results in the first nine months of 2015 KMG International Group, part of KazMunayGas - the national oil and gas company of Kazakhstan - managed to obtain, in the first nine months of this year, an increase by 11% of the operating result and a net profit of USD 11.4 million, as compared to a negative value of USD 30 million in the same period of 2014. “The operational and financial performance achieved by the Group in the period from 2014 to 2015 is a historical record based on the measures taken to consolidate and optimize the core activities - refining, retail and trading in the Black Sea and the Mediterranean Sea regions, also supported by USD 1.6 billion granted by the sole shareholder since 2007 until present. Taking into account that the refining sector has been strongly affected by the financial crisis, our long-term strategy targeted the expansion and modernization of the Petromidia Năvodari refinery, the development of the retail segment in Romania, Bulgaria, Moldova and Georgia, as well of the trading sector in Turkey, France, Spain and Singapore” states Zhanat Tussupbekov, CEO of KMG International. In the first nine months of the year, the Group recorded an operating result (EBITDA) of USD 136.1 million, an increase of 11% as compared to the level of the same period of 2014. In the period from July to September, the operating profit amounted to USD 54.2 million. In the context of the major depreciation of raw materials (crude oil) and finished products, the gross turnover recorded by the Group in the same period decreased by 25%, from approximately USD 10.3 billion to USD 7.7 billion.
    [Show full text]
  • Rompetrol Opens New Site in Romania
    Rompetrol opens new site in Romania This is the fifth station in Vrancea County and joins the other four Rompetrol stations in Focsani. The total investment amounts to approximately 1.4 million USD. The new gas station features a wide range of facilities and services: four Efix and EfixS fuel pumps, a high capacity truck pump, an Adblue tank, vignette purchase service, prepay card top-up, air / water. The station is also equipped with a liquefied petroleum gas supply point, a cylinders rack and also with a “hey” restaurant. ”In the new station from Adjud, Rompetrol customers will find quality fuels produced by the largest refinery in Romania and one of the most modern in the Black Sea region - Petromidia Năvodari", says Serghei Sevcenco, Rompetrol Downstream General Director. The station is equipped with an electric charge point, a service offered free of charge to all Rompetrol customers who own electric or hybrid cars. With a capacity of 50KW it is able to charge two cars at the same time. Rompetrol Downstream, the retail division of the KMG International Group in Romania, owns 13 electric charge points in its gas station network, 4 of which are in Moldova region (Vrancea - Adjud, Iasi and 2 in Bacau). By opening the Adjud station, KMG International continues its development at the national level. The company operates in Romania a fuel distribution network consisting of 918 fueling stations (own stations, partner stations, mobile stations: express, internal bases of 5, 9 and 20 cubic meters), up by 14% compared to the level of 2017. There are also 6 fuel depots (Arad, Craiova, Mogoşoaia, Simleul Silvaniei, Vatra Dornei and Zarnesti), as well as the three liquefied petroleum cylinders filling stations (Bacău, Arad and Pantelimon).
    [Show full text]
  • Transforming the Future Contents
    2016 SUSTAINABILITY REPORT TRANSFORMING THE FUTURE CONTENTS INTRODUCTION 2 WHO WE ARE 6 OUR PEOPLE 20 ENVIRONMENT 26 COMMUNITY 32 MARKETPLACE 36 APPENDICES 42 KMG INTERNATIONAL 2 INTRODUCTION A MESSAGE FROM OUR CEO ABOUT THIS REPORT KMG International is committed to reporting on Dear friends, the progress we make each On behalf of everyone at KMG International, thank In addition to the actions taken to address this specific year toward a sustainable you for your interest in our sustainability report. As incident, we continue to focus on contractor safety, a major player in the global oil and gas industry and vehicle and machinery safety and fall prevention and future, and this is the third a worldwide system that includes operations in 16 protection with a newly improved and much more addition of the sustainable different countries, we are committed to positively comprehensive safety training system. development report. contributing to our local communities, keeping our Even though this was a terrible tragedy and no employees safe and protecting the planet we all share. As we look back on 2016, success can compensate for loss of life, we are Sustainability is at the core of everything we do. fortunate that aside from this incident, the remainder it’s a time to share the of the highlights are mostly positive in nature. achievements we’ve Whether it’s employee safety, ethical business made, while also honestly practices, or social progress, we will continue to push We are proud to report some significant steps forward and establish KMG International as a leader forward in how KMGI treats our greatest asset: our reflecting on the gaps in weaving sustainability standards into the fabric of people.
    [Show full text]
  • August 12Th 2016
    20th June 2018 Contact: Bogdan Urzică Telephone: 021/305.77.45 Press Release The Chairman of the Management Board of KazMunayGas (KMG), the National Gas and Petroleum Company of Kazakhstan and the sole shareholder of KMG International, Sauat Mynbayev, met with Mr. Anton Anton, the Minister of Energy, in Bucharest on Tuesday. During the meeting, the KMG Chairman presented Rompetrol’s financial performances obtained in Romania following the historical production records and the company’s plans to consolidate its position both locally and regionally. In this context, the two also discussed ways to synchronise Rompetrol Group’s regional development efforts with Romania’s plans to become an energetic hub in the region. “Romania and the Romanians are our partners in turning Petromidia in the most modern refinery in the South-Eastern Europe and we will not stop here. We will continue to invest in the Romanian energetic sector, will continue to be one of the largest producers and exporters in the country, to work to improve the most important social sectors of Romania and also to retain valuable people in the country. All these because we wish to look back in pride and satisfaction. We’ve been building together for over a decade and we look to our future together with responsibility and optimism”, says Sauat Mynbayev. During the discussions with the Ministry of Energy officials, KMG firmly committed to fulfilling all the obligations taken under the Memorandum of Understanding signed with the Romanian Government. One of the most important provisions of the said Memorandum refers to the establishment of the mixed Romanian-Kazak investment fund for a 7-year investment period and an estimate USD 1 billion in investments.
    [Show full text]
  • Study on Companies from the Energy Sector from the Perspective of Performance Through the Operating Cash Flow
    energies Article Study on Companies from the Energy Sector from the Perspective of Performance through the Operating Cash Flow 1 1 1, 2 Claudia Diana Sabău-Popa , Luminit, a Rus , Dana Simona Gherai *, Codrut, a Mare 1 and Ioan Gheorghe T, ara 1 Department of Finance—Accounting, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania; [email protected] (C.D.S.-P.); [email protected] (L.R.); [email protected] (I.G.T, .) 2 Department of Statistics-Forecasts-Mathematics, Faculty of Economics and Business Administration, Babes-Bolyai University, 400000 Cluj-Napoca, Romania; [email protected] * Correspondence: [email protected] Abstract: In this paper we analyzed the link between companies’ performance, in terms of cash and income, and the labor productivity or management rates, in case of the companies from the energy sector listed on the Bucharest Stock Exchange. We focused on the energy sector because of the impact that its expansion has on the evolution of economies around the world and because of its dynamics in the sense of gradually shifting to the use of energy from renewable sources. We have used panel regression models to analyze the operating cash flow and the profitability rates and the determination of a causal or dependency relationship with labor productivity or management rates. The results of this study show a significant negative correlation between operating cash flows and the average duration of stock rotation, and no correlation between productivity and the operating cash flow. Instead, the average duration of stock turnover does not at all influence the profitability Citation: Sab˘au-Popa,C.D.; Rus, L.; rates, and productivity is always significant for the return on assets, ie forthe return on equitywith Gherai, D.S.; Mare, C.; T, ara, I.G.
    [Show full text]
  • Compliance Or Not with the New Corporate Governance Code
    digitales archiv ZBW – Leibniz-Informationszentrum Wirtschaft ZBW – Leibniz Information Centre for Economics Ivan, Oana Raluca Article Compliance or not with the new corporate governance code Provided in Cooperation with: Dimitrie Cantemir Christian University, Bucharest This Version is available at: http://hdl.handle.net/11159/4133 Kontakt/Contact ZBW – Leibniz-Informationszentrum Wirtschaft/Leibniz Information Centre for Economics Düsternbrooker Weg 120 24105 Kiel (Germany) E-Mail: [email protected] https://www.zbw.eu/econis-archiv/ Standard-Nutzungsbedingungen: Terms of use: Dieses Dokument darf zu eigenen wissenschaftlichen Zwecken This document may be saved and copied for your personal und zum Privatgebrauch gespeichert und kopiert werden. Sie and scholarly purposes. You are not to copy it for public or dürfen dieses Dokument nicht für öffentliche oder kommerzielle commercial purposes, to exhibit the document in public, to Zwecke vervielfältigen, öffentlich ausstellen, aufführen, vertreiben perform, distribute or otherwise use the document in public. If oder anderweitig nutzen. Sofern für das Dokument eine Open- the document is made available under a Creative Commons Content-Lizenz verwendet wurde, so gelten abweichend von diesen Licence you may exercise further usage rights as specified in Nutzungsbedingungen die in der Lizenz gewährten Nutzungsrechte. the licence. https://creativecommons.org/licenses/by-nc-nd/4.0/ Leibniz-Informationszentrum Wirtschaft zbw Leibniz Information Centre for Economics Academic Journal of Economic Studies
    [Show full text]
  • JSC Kazmunaygas TABLE of CONTENTS
    JSC KazMunayGas TABLE OF CONTENTS 01 COMPANY OVERVIEW ...........................3 04 CORPORATE RESPONSIBILITY .................................97 Overview of KMG ....................................4 Climate change .....................................98 Geography of assets ................................6 KMG efforts to realise KMG in figures .......................................12 sustainable development goals ........... 102 Market trends and challenges ................14 Ecological responsibility ...................... 104 Social responsibility ............................. 118 02 STRATEGY OVERVIEW .........................19 Statement from the Chairman 05 CORPORATE GOVERNANCE ...............129 LIMITS AND of the Board of Directors .......................20 Risk management ................................130 RESTRICTIONS Strategy ................................................22 Corporate governance ..........................138 OF THE ANNUAL Performance metrics .............................26 Information for shareholders REPORT KMG business model .............................28 and investors .......................................182 Transformation and privatisation ...........30 The JSC National Company KazMunayGas IFRS and a number of recommendations 06 FINANCIAL STATEMENTS ................... 191 (“KMG” or the “Company”) Annual Report for from international GRI standards on Digitalisation ........................................34 2018 includes operating results for KMG and the presentation of financial results and Terms,
    [Show full text]
  • Economic Impact Assessment
    PREPARED BY THE BUCHAREST UNIVERSITY OF ECONOMIC STUDIES KMG International Economic Impact Assessment Executive Summary 4 About KMGI 8 Contribution to Energy Security 14 Economic Impact 22 Support to Communities 28 Appendices 33 Executive Summary 6 KMG INTERNATIONAL - ECONOMIC IMPACT ASSESSMENT NC “KazMunayGas” JSC (KMG) is the the Strategy acknowledges a high dependency of EU’s refining industry of Russian crude oil, as well national operator for exploration, as increased challenges of the EU refining sector to production, refining and transportation remain competitive, a fact which is evidenced by the of hydrocarbons in Kazakhstan, with reduction in refining capacity and foreign investment. operations in Europe and Central Asia. Competitiveness and sustainability of the refining industry and reducing dependency of crude suppliers by diversification of crude sources become of outmost importance to ensure secured and sustainable supply, KMG entered the Romanian market in 2007, through as well as affordable market prices for fuel products. the acquisition of Rompetrol Group N.V, later renamed into KMG International N.V. In Romania, the oil & gas industry has known an explosive growth between 1960 and 1980, when As of December 2015, KMG International (KMGI) five major refineries were built. These resulted in a comprises 55 entities, headquartered in 16 countries processing capacity which exceeded the national (i.e. Romania, The Netherlands, Kazakhstan, consumption and production of crude oil. As such, Switzerland, Bulgaria, Republic of Moldova, Georgia, the industry was heavily dependent on the import of Turkey, Ukraine, France, Spain, Singapore, Libya, Iraq, crude, from OPEC members and Russia, and on the Oman, Gibraltar). export of refined products on external markets, which KMGI’s activities include trading of crude oil, oil were however dominated by integrated international refining, retail and marketing of oil products in players.
    [Show full text]
  • Construction of a Compressor Plant
    58 COUNTRIES ANd PEoPlE In quick time – construction of a compressor plant In November 2009, Ferrostaal received an EPCC order (Engineering, Procure- ment, Construction, Commissioning) worth about 65 million euros for the construction of a modern compressor station in Bulbuceni, a village about 200 kilometres west of Bucharest. This compressor station plays an important role in the renewal of the Romanian gas network. THE ECHO August 2010 59 Petrom AG – an OMV holding The Romanian firm Petrom was founded in 1997 as a state-owned mineral oil and natural gas concern. Since the state privatised the firm in 2004, a majority sharehold- ing of 51 percent has been held by the Austrian mineral oil and natural gas group OMV. The company is listed in the BET10 index on the Bucharest stock exchange and has about 35,800 employees. It produces oil and gas in Romania and Kazakhstan, possesses two refineries and a fertiliser factory, as well as a closely knit network of filling Construction progress in April stations in Romania and Moldavia. Since 2006, Petrom has also been running OMV’s marketing business (retail and commercial) in Romania, Bulgaria and Serbia. OMV n Bulbuceni, Romania, Ferrostaal has constructed a is currently in the process of restructuring the oil concern compressor station for its customer Petrom, the for- and modernising its plants. Ferrostaal is playing a part in merly state-controlled mineral oil and natural gas I this process with its construction of the compressor sta- concern in which OMV has a 51 percent holding. This is tion in Bulbuceni, Romania.
    [Show full text]
  • Methods of Portfolio Management for Listed Shares. Some Features for the Romanian Private Pension Funds1
    Quantitative Methods Inquires METHODS OF PORTFOLIO MANAGEMENT FOR LISTED SHARES. SOME FEATURES FOR THE ROMANIAN PRIVATE PENSION FUNDS1 Mihaela DRAGOTA PhD, University Professor, Department of Finance, University of Economics, Bucharest, Romania E-mail: [email protected] Natalia SUSANU Master Student, DAFI, University of Economics, Bucharest, Romania E-mail: [email protected] Abstract: Recently, Romania put into practice the private pension system, which includes compulsory pensions and voluntary ones, as alternatives to statutory (public) pension scheme. According to the Romanian laws, private pension funds can invest in securities issued on regulated and supervised market from Romania, EU Member States, European Economic Space, and third countries a percentage ranging between 10% and 50% of the total pension fund assets. This study should be viewed in the current global financial context whereas, currently, the most powerful and stable financial markets are experiencing problems with the sudden drop in financial asset prices, low liquidity and a reduction in investment on the capital market. The administrators of these funds for the fundamental analysis applied on securities should consider the social component of their activity, since the public pension system is undercapitalized and encountered many problems arising from the influence of economic, social, demographic, political factors. In this article, for the selection of listed stocks to be included in a portfolio, we propose a score function. Using this method we determine which of the companies analyzed previously had the best performance in terms of an investor with risk aversion, and the final goal will be identify the best three companies included in BET index in terms of return and risk.
    [Show full text]
  • Efficiency Through Quality
    EFFICIENCY THROUGH QUALITY [email protected] www.moldocor.ro 2 Company name: S.C. “ MOLDOCOR “ S.A. � Registered Address: RO - 610058, PIATRA NEAMT, No. 73, Decebal Bd., NEAMT County Settlement act : H.G.R. No. 1224 / 1990 Registration at the National Office for Trade Registry J 27/ 2 / 1990 NEAMT Trade Registry Office. RO2046250 Fiscal Registration code Joint stock company - S.A. Legal form Entirely private Ownership form Entirely private Share Capital 0233 – 210660 ; 210587; 210588 TELEPHONE 0233 – 210589 FACSIMILE [email protected] E – MAIL www.moldocor.ro � WEB 3 SC MOLDOCOR SA is a company specialised in construction, mounting and repair works, settled in 1975, well-known on all the industrial platforms, in particular on oil, chemical, refineries and gas platforms. Please find in the next pages a series of investments and beneficiaries, investments executed by our company throughout the time. 4 BENEFICIARIES - INVESTMENTS Rompetrol-Rominserv Petromidia Work Location Rompetrol-Rominserv Downstream Rompetrol-Rominserv Vega Work Location OMV Petrom Petrobrazi Work Location OMV Petrom – Petromar Constanta Oltchim Petrotel Lukoil OMV Petrom-Arpechim Azomures Targu Mures SNGN Romgaz SA Medias SNTGN Trangaz SA Medias EON GAZ Targu Mures EON Electrica Rafo Onesti Chimcomplex Borzesti KMG –Atiran Refinery Pakmaia Pascani CET- Iasi CET – Midia Celuloza Hartie Dej Petrocart Piatra Neamt Letea Bacau Sofert Bacau Azochim Piatra Neamt Radici Savinesti Tnuva Bucuresti Fabrica de ulei alimentar Craiova Sano Bucuresti Combinat Chimic Arad Sometra Copsa
    [Show full text]