Ponta said the signing of the agreement would save the company and improve the investors’ opinion on the country.
Last November, Romania’s Constitutional Court sustained President Traian Basescu’s objection and declared the law approving a memorandum of understanding (MoU) between Romania and Rompetrol unconstitutional.
Basescu notified the Constitutional Court on October 24,2013, soon after the Senate rejected his request to reexamine the approval of the memorandum.
Azamat Zhangulov, senior vice-president with Rompetrol, said late 2013 that the agreement between the government and Rompetrol might be approved by the government in January, but in case it is postponed, KazMunaiGaz might give up the agreement.
Rompetrol, a unit of Kazakh KazMunayGas, said last February it reached an agreement with government officials to buy back a minority stake in its unit Rompetrol Rafinare (RRC.RO).
Under the agreement, Rompetrol pledges to buy a 26% stake in Rompetrol Rafinare from OPSPI for $200 million.
The two parties also agreed to set up a joint investment fund to be 80%-owned by The Rompetrol Group and 20%-controlled by the Romanian state.
Zhangulov added that Rompetrol’s investments in Romania next year would depend on the memorandum.