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Romanian RAFO Onesti Resumes Ops To Complete Equip Upgrade Program

Romanian refinery Rafo Onesti resumed operations Monday, to carry out the equipment upgrade program, and almost 900 of its 1,300 employees returned to work, two weeks after the return of its first 350 employees.
Romanian RAFO Onesti Resumes Ops To Complete Equip Upgrade Program
02 feb. 2009, 11:35, English

"Rafo Onesti management, with the investor’s approval, launched the most difficult and most complex modernization and investment program applied by the company after 1980. Through the project and the new technology, Rafo will give up the production of gasoline, which is in excess on the local and international market, and will produce, after the modernization, diesel oil, chemistry products and flavored products," Ion Marian, Rafo union leader, stated Monday.

Rafo entered insolvency in April 2004, on being the largest debtor to the state at that date. In 2007, Romanian Privatization Authority lifted the pledge settled upon the refinery’s shares, as the investments undertaken by the privatization contract were completed.

Rafo Onesti halted operations in February 2008 for a two-year period, to develop an over EUR350 million investment program.

The company’s modernization program will end in the autumn.

The company has a 290-units distribution network.

Rafo is Romania’s third largest refinery, with a daily processing output of 72,000 barrels of crude oil.