Kazakhstan and Romania agree on oil-sector co-operation

Jun 23, 1999 02:00 AM

Kazakhstan will pump its oil to Romania to be refined for subsequent sale on European markets.
The Romanian state-run company Petrom and Kazakhstan's Kazakhoil and Kaztransoil recently signed an agreement on partnership and a Romanian-Kazakh company. Nicolae Staiculescu, Romanian deputy industry and trade minister, said that oil transportation and processing may get off the ground this year, if everything goes as planned.
Petrom also signed a co-operation deal with the state-run Kazakstankaspiishelf to explore and develop oil deposits off the Aral Sea coast.

The chairman of the Kazakh Emergencies Agency, who headed the Kazakh delegation, and Romanian Prime Minister Radu Vasile considered setting up Romanian-Kazakh joint ventures to deal with Kazakh cotton and wool and building a line for the assembly of Romanian cars in Kazakhstan as part of a mutual trade and economic co-operation program.

Source: NEZAVISIMAYA GAZETA via NewsBase
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