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.
31-456: 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 a substantial turnover growth. In 1999,
62-461: 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
93-598: 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
124-598: A franchise system operated by Sphera Franchise Group. Dinu Patriciu 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
155-525: 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
186-403: 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, 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
217-685: 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
248-456: The 1996 Romanian local election . In 2000, he 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
279-489: 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
310-669: The National Liberal Party (PNL). During the 2009 Romanian presidential election , Patriciu released 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
341-703: 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
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#1732890712689372-677: The Institute of Architecture. He won several architecture awards and he 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
403-610: The Minister for Public Works and Territorial Planning. He was part of 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
434-540: 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
465-408: The Romanian state and later sold to Kazakhstan's state-owned KazMunayGas . Patriciu's business activity 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
496-560: 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
527-517: 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
558-507: 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
589-639: 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,
620-613: 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
651-471: 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.,
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#1732890712689682-466: The largest and most modern refinery in Romania and the Black Sea region – Petromidia Navodari – which boasts a processing capacity of over five million tons per year. The company's retail network that operates under the "Rompetrol" brand incorporates over 1000 fuel distribution points in Romania, Georgia, Bulgaria and Moldova. As of 2010, the group is entirely owned by National Company KazMunayGas JSC,
713-402: 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
744-456: 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,
775-659: 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,
806-557: 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
837-581: 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
868-588: 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
899-543: 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
930-464: 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
961-587: Was buried in the Bucharest Bellu Cemetery , in a private ceremony. KMG International KMG International N.V. (formerly known as The Rompetrol Group N.V.) is an international oil company with operations in 15 countries throughout Europe , Central Asia and North Africa . The group is active primarily in refining, marketing and trading, with additional operations in exploration and production, and other oil industry services such as drilling, EPCM , and transportation. KMG International owns