Wednesday, Apr 1, 2020. 20:46

KMGI-Romania fund to invest USD 43 mln at Petromidia Năvodari refinery

Photo by Luca Arsinel/Shutterstock.com

The Kazakh-Romanian Energy Investment Fund (FIEKR) has recently approved two new investment projects worth a total of USD 43 million related to the Romanian energy sector, KazMunayGas International (KMGI) says.

The Petromidia Năvodari oil and gas refinery plant. Photo by Luca Arsinel/Shutterstock.com

FIEKR was established by KMGI and Romania’s government. The projects will create synergies for the production processes at the Petromidia Năvodari refinery and economic added value for both companies, KMGI said on March 31.

The first project is the construction of a dewaxing plant on the Petromidia platform, which will allow the refinery to significantly improve the process of obtaining diesel fuels in the wintertime.

At the same time, the integration of the new dewaxing plant into the technological flow of the refinery will also allow an increase in the production of aviation jet fuel, leading to the strengthening of local energy security.

KMGI operates Petromidia năvodari, the largest Romanian oil refinery, located in Năvodari, Constanţa County, and the Vega Ploiesti oil refinery in Prahova County, through Rompetrol Rafinare, KGMI said.

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