Romania Wants No Shares In Rompetrol Rafinare - Rompetrol CFO

"The state said it does not want to be holder in Rompetrol Rafinare. We are considering our possibilities in managing the refinery alongside the state," Rompetrol's group's chief financial officer Dmitry Grigoryev told a news conference Wednesday.

He added that Rompetrol will consider the option to close the refinery down, if lacking cash.

The Rompetrol Group, owned by KazMunayGas, must repay Romanian authorities a historic debt of 2.4 billion lei (EUR1=RON4.2396) in the account of Petromidia refinery's debt to the state budget, which was converted into seven-year bonds by government decision in 2003.

The government revealed at the beginning of the year it expected to collect EUR570 million from Rompetrol.

So far, the company paid less than 10% of the EUR570 million loan falling due at the end of September, while the rest of the sum might be converted into shares, to settle the rest of the debt.

Grigoryev said Rompetrol Rafinare does not plan to increase its share capital again after the state becomes holder.

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