However, neither the government nor Oltchim is to buy the Arpechim refinery until Oltchim is privatized, the document noted.
Oltchim is 54.8%-owned by the Economy Ministry. The chemical company buys most of its raw materials from Arpechim, a unit of oil company OMV Petrom (SNP.RO).
Both the ministry and Oltchim have been contemplating buying Arpechim after Petrom said it would dismantle the unit because it couldn’t find a “credible buyer”.
Romania has been trying to privatize the chemical company ever since 2007. Oltchim is one of the companies monitored by the International Monetary Fund because of its large debts to the state budget and various other creditors.
On the Bucharest bourse Tuesday, Oltchim closed down 0.66% at RON1.202 a share.