Romania's Rompetrol confirms NIS interest

Rompetrol CEO Dinu Patriciu has confirmed that his company is interested in the NIS privatization.

Izvor: B92

Thursday, 01.11.2007.

14:05

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Rompetrol CEO Dinu Patriciu has confirmed that his company is interested in the NIS privatization. "We will participate in any kind of privatization, including an offer to sell a minority share of stock and an added capitalization at a later date. We do not care about taking over most of the company." Romania's Rompetrol confirms NIS interest "What does matter to us is the synergy that could be established between the two systems, where we would develop a market to be supplied by two refineries, one in the east and the other in the west of the Balkans," he said. "I believe we have a market that can develop only if we join companies together, and this is something none of other potential buyers can offer," Patriciu told reporters in Bucharest Wednesday. "We are able to utilize existing assets in Romania, including the port of Midiu and the logistic at our disposal, to open up a new route for NIS to receive its crude oil supplies." "Additionally, it is in the interest of consumers in both countries to establish an integrated system. For example, western Romania is a natural market for NIS. There is a thousand kilometers from Midia to Timisoara, while it amounts to 80 from NIS [facilities]. This is a natural market and we will open it up for NIS via our distribution network," Patriciu said. Russian Gazprom also expressed interest in the Serbian oil monopoly, but they have reportedly asked the Serbian government to reconsider its decision to sell a minority stake in NIS, and allow them to become majority owners. Gazprom CEO Alexei Miller was recently in Belgrade for meetings with the state's top officials, including the prime minister and president.

Romania's Rompetrol confirms NIS interest

"What does matter to us is the synergy that could be established between the two systems, where we would develop a market to be supplied by two refineries, one in the east and the other in the west of the Balkans," he said.

"I believe we have a market that can develop only if we join companies together, and this is something none of other potential buyers can offer," Patriciu told reporters in Bucharest Wednesday.

"We are able to utilize existing assets in Romania, including the port of Midiu and the logistic at our disposal, to open up a new route for NIS to receive its crude oil supplies."

"Additionally, it is in the interest of consumers in both countries to establish an integrated system. For example, western Romania is a natural market for NIS. There is a thousand kilometers from Midia to Timisoara, while it amounts to 80 from NIS [facilities]. This is a natural market and we will open it up for NIS via our distribution network," Patriciu said.

Russian Gazprom also expressed interest in the Serbian oil monopoly, but they have reportedly asked the Serbian government to reconsider its decision to sell a minority stake in NIS, and allow them to become majority owners.

Gazprom CEO Alexei Miller was recently in Belgrade for meetings with the state's top officials, including the prime minister and president.

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