“(…) The results of the two subsidiaries have an important contribution to the company’s long term strategy, of developing the retail segment in the Black Sea and western Europe region, supported by our sole shareholder – KazMunayGas. In the upcoming period, we target to develop the operations with high potential in southeastern Europe, depending on the market conditions,” Catalin Dumitru, KMG International vice-president, said in a press release.
Rompetrol has been operating on the markets in Georgia and the Republic of Moldova for 9 years and 12 years, respectively.
In 2013, the development of the retail segment, due to the increase of the number of filling stations and investments in their upgrade, as well as the improvement of the wholesale policy, triggered a growth of the total fuel sales for the two subsidiaries, the release reads.
Thus the volumes of fuel sold last year on the two markets totaled 286 kilotons, up nearly 30% compared with 2012.
Rompetrol Georgia currently operates 71 gas stations and Rompetrol Moldova operates 57 gas stations.
The company develops its retail operations via over 1,100 gas stations in Romania, France, Spain, Moldova, Georgia and Bulgaria.
The company is fully owned by Kazakh state-run oil and gas company KazMunayGas.