Kazakhstan’s national oil and gas company KazMunaygas has invested approximately $1 billion into Romania’s Petromidia refinery, according to Zhannat Tussupbekov, the CEO KMG International, who announced the deal while in Navodari, home of the Petromidia plant.

“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,” said Tussupbekov.

The Petromidia refinery has the highest white product in the region and ranks ninth among 250 refineries in Europe and Africa, according to a study American company Solomon in 2018. The refinery’s management hopes to increase its capacity for this year to approximately 6.1 million tonnes oil.



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