Economy Minister Varujan Vosganian says OMV Petrom will not demolish Arpechim refinery

Economy Minister Varujan Vosganian stated that OVM Petrom would not demolish Arpechim Pitesti refinery, as the management of the oil company announced on Thursday, but it would be up to the Government to find a solution to integrate the refinery within Oltchim chemical plant. “I had consultations this morning with OMV Petrom management and I am empowered to say that OMV Petrom will correlate its strategy on Arpechim with the strategy on Oltchim’s reorganization, so that OMV Petrom supports Oltchim’s efforts to reorganize the company and resume the entire activity. OMV will not proceed to Arpechim demolition, but it will be at our disposal if we can find a possibility to restart the petrochemical chain and discuss about the possibility to integrate into this chain the petrochemical segment from Arpechim”, Vosganian stated on Friday in a press statement. OMV Petrom CEO Mariana Gheorghe stated on Thursday in a press conference that Arpechim refinery would be demolished if it couldn’t be sold. Arpechim is the main supplier of raw material for Oltchim Ramnicu Valcea chemical plant, currently in insolvency.