OMV Petrom’s Arpechim refinery, ever closer to be disbanded

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OMV Petrom will keep closed its refinery in Pitesti, Arges County, but will use the tanks for crude oil storage, Mariana Gheorghe, CEO of the largest oil and gas producer in South Eastern Europe said on Thursday on a press conference, submitting the financial results.

However in the absence of a buyer, Arpechim unit will likely be disbanded. No buyer hasn’t showed its interest in the refinery so far.

“All arguments for which we have closed Arpechim remain valid. It’s a very small refinery which is unjustified from economic and operational point of view. (…) Romania still has operational capacities of over 18 million tons, given that the market need is about 9 million tons of products,” Gheorghe explained.

She said that if OMV Petrom would like to reopen Arpechim,  the group should invest several hundred million euros.

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