RAFO Oneşti was one of the largest
oil refineries in
Romania and
Eastern Europe with an annual total refining capacity of 3.5 million tonnes of oil.
The refinery was
privatised in 2001 with the major stock of 60% being sold to
Imperial Oil
Imperial Oil Limited (French: ''Compagnie Pétrolière Impériale Ltée'') is a Canadian petroleum company. It is Canada's second-biggest integrated oil company. It is majority owned by American oil company ExxonMobil with around 69.6 percent ...
and Canyon Servicos for around US$7.5 million. The
British company Balkan Petroleum bought the refinery from those companies in 2003.
In November 2006, Calder - A bought the refinery and paid all its debts to the state budget. Until November 2007 the company paid debts worth around US$380 million
Rafo Onesti si-a platit datoriile
and increased the capital by US$860 million.
The company also operated a chain of 290 gas stations, of which it owned 45, the rest being business associations.
In 2007, Petrochemical Holding GmbH acquired 98% of the company's shares, later the debts of RAFO were swapped for equity. As a result, Petrochemical Holding GmbH became 96.5% shareholder of RAFO.
In 2008, the company stopped production, because it was no longer possible to renew its operating licence, as the facility could not comply with environmental legislation requirements. It entered insolvency in 2014 and in September 2019 it went bankrupt after the plan for its restructuring failed.
See also
* Borzești Petrochemical Plant
References
External links
Official site
{{DEFAULTSORT:Rafo Onesti
Oil and gas companies of Romania
Oil refineries in Romania
Privatized companies in Romania
Companies listed on the Bucharest Stock Exchange
Companies of Bacău County