Petrom makes NATO fuels

The National Oil Company (SNP) Petrom has announced the acquisition of a stake held by Norsk Hydro (Norway) and disclosed plans to produce fuels for NATO aircraft at the Petrobrazi refinery. SNP Petrom has recently purchased 95% in Too Kom-Munai, which owns the operating licence for a Kazakhstan deposit, with the operation to be endorsed by the Extraordinary General Meeting of Shareholders scheduled for April 22. SNP officials have also said that a new type of fuel for NATO aircraft will be produced at Petrobrazi together with Air British Petroleum. “Due to this cooperation, Petrom will become the main NATO fuel supplier in this part of Europe,” company officials said. The shareholders are also set to endorse the direct administration and management of Hydrogas Petrom SRL, a joint venture between Norwegian group Norsk Hydro and SNP Petrom. Moreover, SNP is also preparing to take over the Norwegians’ 50% stake in joint venture Hydrogas Petrom. ZF