Kazakhstan - 03

Kazakhstan: The Petromidia Investigation: KMG International’s Legacy

Last week Romanian law enforcement launched a major criminal investigation into Petromidia, the country’s largest oil refinery, which is now owned by KMG International Group. Prosecutors are investigating up to €670mn owed the Romanian state through a fraudulent privatization and other activities by Petromidia’s former owners and participating state officials. Authorities named KMG International, previously known as the Rompetrol Group, along with Oilfield Exploration Business Solutions (previously Rompetrol SA) and Rompetrol Rafinare in the case.

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