Conpet turnover on schedule

State-owned Conpet Ploiesti, a company providing oil and oil product transport services, posted more than $30 million turnover in the first nine months this year, says general manager Petre Petrescu. The turnover is the same as in the first nine months last year, given that this year’s target is $50 million compared to the $48.8 million last year. “We are on this year’s target,” Petrescu commented. Conpet will merge with Petrotrans by the end of the year and form a single domestic oil carrier, following the transfer of the Petrotrans assets in the public domain of the State and destined to be used for transporting oil and oil products (the pipelines) to Conpet. Petrotrans will be left with the railway transportation assets only as a result of this transfer and will be privatised in order to establish a railway operator to compete with CFR Marfa and the private companies in this business. The final draft of this merger is now analysed by the Office for State’s Interests and Industrial Privatisation, an entity within the Economy and Trade Ministry, which co-ordinates the privatisation of all those companies wherein the State holds the controlling interests. ZF