Rompetrol is a crude oil development, producer, and refiner based in Romania . It also markets and distributes refined petroleum products through its chain of gasoline and diesel fuel stations. Established as a state-owned company in 1974, it was privatized in 1993 and became a subsidiary of KMG International in 2007. It has operations in 12 countries, where it is known as The Rompetrol Group N.V.
70-672: Dan Costache ("Dinu") Patriciu ( Romanian pronunciation: [ˈdinu paˈtrit͡ʃu] ; 3 August 1950 – 19 August 2014) was a Romanian billionaire businessman and politician. At the time of his death, Patriciu was the richest man in Romania. His wealth was based on the Rompetrol company (the second largest oil company in Romania), which he took over from the Romanian state and later sold to Kazakhstan's state-owned KazMunayGas . Patriciu's business activity
140-594: A budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which resulted in the introduction of the euro (see also United Kingdom and
210-459: A case of embezzlement in 1999–2001. The company misappropriated an amount of $ 85 million owed to the state budget under EPSA agreements. In 2007, President Traian Băsescu accused the then-Prime Minister Călin Popescu-Tăriceanu of sending him a note in 2005 asking to influence the political investigations of Dinu Patriciu, an ally of Popescu-Tăriceanu. Băsescu said that he did not make
280-547: A foreign trading currency in Cuba since 1998, Syria since 2006, and Venezuela since 2018. In 2009, Zimbabwe abandoned its local currency and introduced major global convertible currencies instead, including the euro and the United States dollar. The direct usage of the euro outside of the official framework of the EU affects nearly 3 million people. Outside the eurozone, two EU member states have currencies that are pegged to
350-593: A former vice-president of Rompetrol Netherlands. While the criminal case against Patriciu was ended due to his death, the civil case continues. Patriciu was diagnosed with cirrhosis and he underwent a liver transplant in Milan in 2012. He was later diagnosed with lymphoma . Patriciu died on 19 August 2014, aged 64, at the Royal Free Hospital in London due to a lung infection after spending several days in hospital. He
420-469: A franchise system operated by Sphera Franchise Group. Euro The euro ( symbol : € ; currency code : EUR ) is the official currency of 20 of the 27 member states of the European Union . This group of states is officially known as the euro area or, more commonly, the eurozone . The euro is divided into 100 euro cents . The currency is also used officially by the institutions of
490-686: A subsidiary in Ukraine (Rompetrol Ukraine). In August 2007, the Kazakh company KazMunayGas acquired 75% of the Rompetrol shares from Rompetrol Holding Switzerland, and the remaining 25% stake in Rompetrol in 2009. In 2008, Rompetrol and KazMunayGas launched Media Marine Terminal for crude oil in the Media Black Sea port. In August 2009, Rompetrol opened its first two fuel stations on the A2 motorway in Romania, designed as
560-565: A substantial turnover growth. In 1999, the company's new holding was established as The Rompetrol Group N.V.(TRG) in the Netherlands. The new group made its first major acquisition: Vega Refinery - located in Ploiești - which doubled its revenues in the first nine months after takeover. In 2000, Rompetrol took over Petros (renamed Rompetrol Well Services), then Romania's principal oilfield operator. The Group's largest acquisition, Petromidia S.A.,
630-625: A video in which President Băsescu appeared to hit a boy; Traian Băsescu sued for libel and won. Patriciu was born in Bucharest in 1950, the son of Valeriu Patriciu, a mining engineer and chief geologist for Astra Română oil company during the interwar period . He graduated the Bucharest Institute of Architecture in 1975 and worked as an architect. Starting in 1978 he taught at the Institute of Architecture. He won several architecture awards and he
700-583: Is a major donor to the EFSF. To be included in the eurozone, countries had to fulfil certain convergence criteria , but the meaningfulness of such criteria was diminished by the fact it was not enforced with the same level of strictness among countries. According to the Economist Intelligence Unit in 2011, "[I]f the [euro area] is treated as a single entity, its [economic and fiscal] position looks no worse and in some respects, rather better than that of
770-524: Is also the sole currency in three overseas territories of France that are not themselves part of the EU, namely Saint Barthélemy , Saint Pierre and Miquelon , and the French Southern and Antarctic Lands , as well as in the British Overseas Territory of Akrotiri and Dhekelia . The euro has been adopted unilaterally as the sole currency of Montenegro and Kosovo. It has also been used as
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#1732891562748840-465: Is discouraged by the commission, as is the practice of certain shops of refusing to accept high-value euro notes. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These include both commonly issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, and nationally issued coins, such as
910-626: The European Central Bank (ECB, Frankfurt am Main ) and the Eurosystem , composed of the central banks of the eurozone countries. As an independent central bank, the ECB has sole authority to set monetary policy . The Eurosystem participates in the printing, minting and distribution of euro banknotes and coins in all member states, and the operation of the eurozone payment systems. The 1992 Maastricht Treaty obliges most EU member states to adopt
980-486: The Liberty Bank (formerly "People's Bank"). Patriciu attempted to build a convenience store chain named mic.ro , however it quickly ended in bankruptcy, with over 45 million € debts to banks in addition to large debts to suppliers. According to Coface Romania, the development was done using credit from suppliers and banks, with almost no funding from the investors. In May 2006, following an interrogation, Dinu Patriciu
1050-533: The Partidul Liberal '93 (PL '93) which split from PNL. He was re-elected a member of the parliament on the list of Democratic Convention of Romania (of which PL '93 was a member) in Dâmbovița County . Patriciu was the leader of the parliamentary group of PL '93 and Partidul Alianța Civică . Patriciu was an unsuccessful candidate for Mayor of Bucharest in the 1996 Romanian local election . In 2000, he
1120-644: The United Arab Emirates . He previously, in 2011, liquidated his worth €110 million portfolio of Swedish property, as well as some properties in Paris and Hague. In 1998, he bought from the Romanian government the oil company Rompetrol. A year later, the company took over the Vega Ploiești oil refinery. In the same year, the headquarters of the company was moved to the Netherlands. In 2000, Rompetrol took over Petros , Romania's only oil well services company at
1190-591: The dobra of São Tomé and Príncipe was officially linked with the euro. Additionally, the Moroccan dirham is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting. These countries generally had previously implemented a currency peg to one of the major European currencies (e.g. the French franc , Deutsche Mark or Portuguese escudo ), and when these currencies were replaced by
1260-501: The " eurozone ", some 347 million people in total as of 2023 . According to bilateral agreements with the EU , the euro has also been designated as the sole and official currency in a further four European microstates awarded minting rights (Andorra, Monaco, San Marino and the Vatican City). All but one (Denmark) current, and any potential future EU members, are obliged to adopt the euro when economic conditions permit. The euro
1330-581: The ECB's banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the main refinancing rate of the ECB. The other 92% of euro banknotes are issued by the NCBs in proportion to their respective shares of the ECB capital key, calculated using national share of European Union (EU) population and national share of EU GDP, equally weighted. Member states are authorised to print or to commission bank note printing. As of November 2022 , these are
1400-599: The EU since 1993 have pledged to adopt the euro in due course. The Maastricht Treaty was amended by the 2001 Treaty of Nice , which closed the gaps and loopholes in the Maastricht and Rome Treaties. The 20 participating members are EU Outermost Regions : Overseas Territories : Special Autonomous Territories : Microstates with a monetary agreement: British Overseas Territory : Unilateral adopters: The following EU member states committed themselves in their respective Treaty of Accession to adopt
1470-503: The European Union , by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia , as well as unilaterally by Montenegro and Kosovo . Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro . The euro is the second-largest reserve currency as well as
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#17328915627481540-457: The European Union , the Latin alphabet version of euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). For the denominations except the 1-, 2- and 5-cent coins, the map only showed the 15 member states of the union as of 2002. Beginning in 2007 or 2008 (depending on
1610-579: The Portuguese escudos , which ceased to have monetary value after 31 December 2002, although banknotes remained exchangeable until 2022. A special euro currency sign (€) was designed after a public survey had narrowed ten of the original thirty proposals down to two. The President of the European Commission at the time ( Jacques Santer ) and the European Commissioner with responsibility for
1680-542: The Republic of Moldova, Bulgaria, and Georgia. After having a loss of USD$ 129 million in 2021, Rompetrol Rafinare had a profit of USD$ 90 million in 2022. It was the largest refinery in Romania at that time, and was controlled by KazMunaygas through KMG International . In March 2023, Rompetrol opened three KFC restaurants in its gas stations on the A1 highway in Romania. They were the first KFC restaurants in Rompetrol stations through
1750-560: The Rompetrol Group N.V. was renamed into KMG International N.V. as part of a strategy to promote the brand KazMunayGas. Although the name was changed into KMG International, the Rompetrol brand continues to be used in the distribution segment of the entire company. The company's retail network that operates under the “Rompetrol” brand incorporates over 1,100 fuel distribution points in Romania, Georgia, Bulgaria, Moldova, in France and Spain, where
1820-513: The US dollar, peaking at US$ 1.60 on 18 July 2008 and since then returning near to its original issue rate. On 13 July 2022, the two currencies hit parity for the first time in nearly two decades due in part to the 2022 Russian invasion of Ukraine . Then, in September 2022, the US dollar again had a face value higher than the Euro, at around US dollar 0.95 per euro. The euro is managed and administered by
1890-478: The US or the UK" and the budget deficit for the euro area as a whole is much lower and the euro area's government debt/GDP ratio of 86% in 2010 was about the same level as that of the United States. "Moreover", they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies". The authors conclude that the crisis "is as much political as economic" and
1960-430: The United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own. The euro is the sole currency of 20 EU member states : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute
2030-518: The biggest refinery in Romania, as well as Romanian gas stations as well as in other countries. Also in March 2018, it was reported that a deal for KazzMunayGaz to sell a majority stake in Rompetrol to CEFC , a Chinese energy company, had "fallen apart." Shares of Rompetrol Rafinare were suspended on the Bucharest Stock Exchange after dropping 4.6% at the news. Previously, the deal to sell 51% of
2100-505: The case", arguing that "the fight against corruption must be carried to the end". The Directorate for the Investigation of Organised Crime and Terrorism (DIICOT) sent the case to court, alleging seven felonies: embezzlement , money laundering , conspiracy , market manipulation , disclosure of privileged information and initiation or establishment of an organised crime ring. Patriciu was accused of being involved, as CEO of Rompetrol, in
2170-464: The coin to commemorate the 2004 Summer Olympics issued by Greece. These coins are legal tender throughout the eurozone. Collector coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them. A number of institutions are authorised to mint euro coins: The design for the euro banknotes has common designs on both sides. The design
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2240-420: The common side of all cent coins). In Community legislative acts the plural forms of euro and cent are spelled without the s , notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have a common side showing the denomination or value, and a map in the background. Due to the linguistic plurality in
2310-641: The company had been agreed on in December 2016, with the deal still on in early March 2018 despite the chairman of CEFC being under investigation for suspected economic crimes. On March 6 or 7, 2022, according to a note to investors, Rompetrol faced a "complex cyber attack," although it stated operations at the Petromidia refinery were not affected. In May 2022, Rompetrol was the largest company in Georgia's fuel market. Its network of gas stations operated in Georgia, Romania,
2380-615: The company operates also under Dyneff brand. In 2015-2016, CEFC China Energy and KazMunayGaz agreed for CEFC China Energy to take over 51% stake in KMG International, the former Rompetrol Group, but by July 2018 the deal fell apart due to the difficult financial situation of the Chinese company. In May 2017, Rompetrol invested $ 10 millions to develop hybrid gas stations. By March 2018, KazMunayGaz's international business, KMGI, owned Petromidia (Rompetrol Rafinare), which in turn operated
2450-487: The country that issued the coin. Euro coins from any member state may be freely used in any nation that has adopted the euro. The coins are issued in denominations of €2 , €1 , 50c , 20c , 10c , 5c , 2c , and 1c . To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland (by voluntary agreement) and in Finland and Italy (by law). This practice
2520-449: The country), the old map was replaced by a map of Europe also showing countries outside the EU . The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the EU member states as of 2002, raised somewhat above the rest of the map. All common sides were designed by Luc Luycx . The coins also have a national side showing an image specifically chosen by
2590-537: The euro ( Yves-Thibault de Silguy ) then chose the winning design. Regarding the symbol, the European Commission stated on behalf of the European Union : The symbol € is based on the Greek letter epsilon (Є), with the first letter in the word "Europe" and with 2 parallel lines signifying stability. The European Commission also specified a euro logo with exact proportions. Placement of the currency sign relative to
2660-543: The euro ). The name "euro" was officially adopted in Madrid on 16 December 1995. Belgian Esperantist Germain Pirlot , a former teacher of French and history, is credited with naming the new currency by sending a letter to then President of the European Commission , Jacques Santer , suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between
2730-682: The euro , which is a precondition to joining the eurozone. The Danish krone and Bulgarian lev are pegged due to their participation in the ERM ;II . Additionally, a total of 21 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa ( CFA franc ), two African island countries ( Comorian franc and Cape Verdean escudo ), three French Pacific territories ( CFP franc ) and two Balkan countries, Bosnia and Herzegovina ( Bosnia and Herzegovina convertible mark ) and North Macedonia ( Macedonian denar ). On 1 January 2010,
2800-449: The euro their currencies became pegged to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation, and encourages foreign investment due to its stability. In total, as of 2013 , 182 million people in Africa use a currency pegged to
2870-445: The euro upon meeting certain monetary and budgetary convergence criteria , although not all participating states have done so. Denmark has negotiated exemptions, while Sweden (which joined the EU in 1995, after the Maastricht Treaty was signed) turned down the euro in a 2003 non-binding referendum , and has circumvented the obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined
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2940-545: The euro. However they do not have a deadline to do so and can delay the process by deliberately not complying with the convergence criteria (such as by not meeting the convergence criteria to join ERM II). Bulgaria and Romania are actively working to adopt the euro, while the remaining states do not have a migration plan in progress. The euro is divided into 100 cents (also referred to as euro cents , especially when distinguishing them from other currencies, and referred to as such on
3010-421: The eurozone are also treated as domestic transactions; however paper-based payment orders, like cheques, have not been standardised so these are still domestic-based. The ECB has also set up a clearing system , TARGET , for large euro transactions. The euro was established by the provisions in the 1992 Maastricht Treaty . To participate in the currency, member states are meant to meet strict criteria , such as
3080-427: The former European Currency Unit (ECU) at a ratio of 1:1 (US$ 1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. Between December 1999 and December 2002, the euro traded below the US dollar, but has since traded near parity with or above
3150-548: The initial designs by Robert Kalina were of specific bridges, including the Rialto and the Pont de Neuilly , and were subsequently rendered more generic; the final designs still bear very close similarities to their specific prototypes; thus they are not truly generic. The monuments looked similar enough to different national monuments to please everyone. The Europa series, or second series, consists of six denominations and no longer includes
3220-402: The management of the newly-founded Rompetrol Petrochemicals. In 2002, Rompetrol opened subsidiaries in neighboring Moldova (Rompetrol Moldova) and Bulgaria (Rompetrol Bulgaria). The following year, in Romania, Rompetrol started to expand its gas station network. As part of its strategy, the company unified the quality standards for its entire petrol station network. To expand its network and make
3290-680: The national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from several years to indefinitely (the latter for Austria, Germany, Ireland, Estonia and Latvia in banknotes and coins, and for Belgium, Luxembourg, Slovenia and Slovakia in banknotes only). The earliest coins to become non-convertible were
3360-554: The national currencies had to be carried out using the process of triangulation via the euro. The definitive values of one euro in terms of the exchange rates at which the currency entered the euro are shown in the table. The rates were determined by the Council of the European Union , based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit
3430-458: The new premium brand of the group In 2009, the company decided to outsource its IT needs but contracted only a single outsourcer with a multimillion dollar deal. In 2010-2011, Rompetrol was established in Turkey (RG Petrol A.S.). The Petromidia refinery modernization process was completed in 2012 following an investment of US$ 380 million. A new filling station concept was launched in 2013. In 2014,
3500-656: The note public earlier because he wanted to avoid derailing the negotiations for EU admission. The Prime Minister admitted he sent the note, but claimed he just wanted the President to make sure that investigations were carried out correctly. Patriciu and the other defendants were acquitted in 2012 during the first trial, in a verdict that was later overturned following an appeal of the prosecutors. The Court of Appeals sentenced in 2014 several of his associates to prison, including PNL Senator Sorin Roșca Stănescu and Alexandru Bucșa,
3570-688: The numeric amount varies from state to state, but for texts in English published by EU institutions, the symbol (or the ISO -standard "EUR") should precede the amount. Following the U.S. financial crisis in 2008, fears of a sovereign debt crisis developed in 2009 among investors concerning some European states, with the situation becoming particularly tense in early 2010 . Greece was most acutely affected, but fellow Eurozone members Cyprus , Ireland , Italy , Portugal , and Spain were also significantly affected. All these countries used EU funds except Italy, which
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#17328915627483640-705: The old man died and his wife disappeared, police being informed of this disappearance by a business associate of Patriciu. Not long after, the house was demolished and the land was taken over. Accused by the press of involvement in a murder, Patriciu denied any involvement and claimed that her death delayed the project. In 2007, he bought the Fabian Romania Property Fund, a British real estate investment fund in Romania. As of 2012, his Dinu Patriciu Global Properties company owned real estate (office and commercial buildings) worth an estimated $ 1 billion in Germany and Romania, as well as 25 residential projects in
3710-403: The printers: Capital within the EU may be transferred in any amount from one state to another. All intra-Union transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs. This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. Credit/debit card charging and ATM withdrawals within
3780-557: The process of distributing fuel easier, Rompetrol created a network of oil depots in various regions of the country ( Arad , Craiova , Șimleu Silvaniei , Zarnesti , Vatra-Dornei , Constanta , Mogosoaia ). In 2004, Rompetrol Rafinare S.A. was listed on the Bucharest Stock Exchange (BVB). In 2005, Rompetrol started operations in Georgia and announced the acquisition of 100% of the French company Dyneff S.A. In 2006, Rompetrol opened
3850-502: The public; a design competition will also be held. Since 1 January 2002, the national central banks (NCBs) and the ECB have issued euro banknotes on a joint basis. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice,
3920-455: The result of the fact that the euro area lacks the support of "institutional paraphernalia (and mutual bonds of solidarity) of a state". The crisis continued with S&P downgrading the credit rating of nine euro-area countries, including France, then downgrading the entire European Financial Stability Facility (EFSF) fund. A historical parallel – to 1931 when Germany was burdened with debt, unemployment and austerity while France and
3990-577: The richest Romanian. Patriciu bought the Adevărul newspaper in 2006 and increased the holding's portfolio to include the Click! tabloid, the local edition of Forbes , OK! and Foreign Policy , as well as cultural magazine Dilema Veche , women's magazine Tango and science popularization magazine, Știință și Tehnică . In 2012, he sold Adevărul Holding to Cristian Burci . Together with former Georgian prime minister Lado Gurgenidze , Patriciu bought
4060-500: The second-most traded currency in the world after the United States dollar . As of December 2019, with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world. The name euro was officially adopted on 16 December 1995 in Madrid . The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing
4130-464: The successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which
4200-585: The time, renaming it Rompetrol Well Services . In 2001, Petromidia Năvodari, the largest refinery in Romania was sold to Rompetrol for $ 50 million. The € 570 million debt of Rompetrol to the Romanian state was converted in 2003 into bonds by the Adrian Năstase Government. In 2014, the Victor Ponta government erased the debt. Dinu Patriciu sold 75% of the shares in Rompetrol to Kazakhstan's KazMunayGas for $ 2.7 billion in 2007, becoming
4270-433: The €500 with issuance discontinued as of 27 April 2019. However, both the first and the second series of euro banknotes, including the €500, remain legal tender throughout the euro area. In December 2021, the ECB announced its plans to redesign euro banknotes by 2024. A theme advisory group, made up of one member from each euro area country, was selected to submit theme proposals to the ECB. The proposals will be voted on by
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#17328915627484340-560: Was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form ( traveller's cheques , electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became
4410-543: Was also Romania's largest and most sophisticated oil refinery. Rompetrol committed itself to a sustained modernization process to make Petromidia a state-of-the-art facility in Eastern and Central Europe. In 2001, Rompetrol created Rominserv S.A., Romania's first Engineering Procurement Construction & Maintenance (EPCM) company focused on the oil industry. In 2002, the Petromedia refinery resumed its petrochemicals production under
4480-496: Was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally pound sterling ) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different since the euro by then
4550-461: Was arrested for 24 hours, being accused of tax evasion , money laundering and fraud. He was freed at the end of the 24 hours, as the judges refused to extend the warrant requested by the prosecutors. Patriciu accused the prosecutors of "serving a reactionary interest group represented by General Ioan Talpeș and former president Ion Iliescu ". The Prosecutors' Body issued a communiqué in which they decried "a gross interference of political parties in
4620-523: Was buried in the Bucharest Bellu Cemetery , in a private ceremony. Rompetrol Rompetrol was established in 1974 as the operator of the Romanian oil industry. The company was privatized in 1993 through a Management and Employee Buyout (MEBO), and turnover subsequently reduced to below $ 6 million by 1998. In 1998, Rompetrol was purchased by a local investor group led by Dinu Patriciu , thus increasing company capital and contributing into
4690-505: Was created by the Austrian designer Robert Kalina . Notes are issued in €500 , €200 , €100 , €50 , €20 , €10 , and €5 . Each banknote has its own colour and is dedicated to an artistic period of European architecture. The front of the note features windows or gateways while the back has bridges, symbolising links between states in the union and with the future. While the designs are supposed to be devoid of any identifiable characteristics,
4760-572: Was elected on the lists of PNL for the Prahova County . He resigned on June 18, 2003 due to incompatibility between public office and his private business interests. In 1990, he founded the first private company in Romania, "Alpha", having architecture and constructions activities. The following year, Patriciu's company began buying land in a northern district of Bucharest to build an apartment complex. A couple of octogenarians initially refused to sell, before reaching an agreement. Short time after this,
4830-404: Was involved in building projects in Romania and in the United Arab Emirates , including a palace in Abu Dhabi . A founding member of the National Liberal Party in 1990, Patriciu was elected a member of the Chamber of Deputies in the 1990 Romanian general election on the lists for the Timiș County . In 1991, he was named the Minister for Public Works and Territorial Planning. He was part of
4900-402: Was marred by legal troubles, being charged with defrauding the state, money laundering and illegally manipulating markets, but he successfully withstood the investigations into allegedly corrupt privatization deals. A supporter of right-libertarian politics , Patriciu was a long-time member of the National Liberal Party (PNL). During the 2009 Romanian presidential election , Patriciu released
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