“If we don’t find a buyer, we will continue to preserve the refinery until we obtain authorization to tear it down,” Petrom’s chief executive officer Mariana Gheorghe told a news conference.
Arpechim is the main supplier of insolvent chemical plant Oltchim Ramnicu Valcea.
In 2009, Oltchim bought the petrochemical business of Arpechim refinery for around EUR13 million. The chemical plant announced plans to take over the remaining assets of Arpechim, but the deal was never finalized.