First steps on setting up Kazakh-Romanian energy fund – Romania, 2 Septemeber 2016

Romanian Ministry of Energy has launched a public tender in order to procure consultancy, legal assistance and representation services for the Romanian state in the process of the establishment of Kazakh-Romanian energy fund.
In 2014, the Government approved a memorandum according to which it agreed to sell 26.7 % stake in Romanian oil company Rompetrol Rafinare to Kazakh KMG International for some 200 million dollars, while keeping the remaining 18 % stake in its possession. At the same time, KMG was obliged to establish one billion euros worth investment fund which would finance various energy related projects in Romania and in which the state will also hold a minority stake. However, none of these agreed measures have been implemented yet.

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