The Rompetrol Group NV decided to change its name to KazMunayGas International NV, as part of the process of integration of activities and transactions with the company KazMunayGas (KMG) – Kazakhstan’s national oil and gas operator, and the Group’s sole shareholder. This decision was taken unanimously by the Board of Directors of the Group, in late February of this year, according to the Rompetrol Group.
The main activity of The Rompetrol Group NV, now KazMunayGas International NV, is to conduct operations in refining and marketing of oil and oil products in Europe. Rompetrol Group is a major foreign asset of the National Company KazMunayGas, according to the Rompetrol Group.
“Changing the name of the company is part of a strategy to promote the brand KazMunayGaz and capitalization of its business. The “umbrella” brand is a prerequisite for strengthening the market position of the group of companies under the brand name KMG both within the country and for its successful entry into the foreign markets. A strong single brand will promote brand awareness of all companies of the group, and will focus on the promotion of a single national brand and the country,” said Zhannat Tussupbekov, Managing director external refining and marketing, National company KazMunayGaz – CEO of The Rompetrol Group (from now on – KMG International).
The central leadership and management body of the Group, Rompetrol Group Corporate Center SRL Romania, will be renamed to KMG Rompetrol. The Company will continue the process of further centralization of management and related services to companies belonging to the Group – KMG Rompetrol.
The brand «Rompetrol» used by the company in the retail sector in Romania and abroad, will remain the same in the nearest future. In order to rename the retail network of company’s distribution points in Europe and the Black Sea region according to the new name it is a step-by-step process. After all, under a visual brand “Rompetrol” there are over 700 distribution points in 7 countries, according to the Rompetrol Group.
Moreover, the branding team of the company has recently completed the process of developing a new concept brand of Rompetrol gas stations. And thus, to maintain a customer loyalty and avoid capital expenditures, company’s distribution points will continue to operate under the already known brand “Rompetrol”.
The company started last year the integration and alignment strategy for its operations with KMG, namely Vector Energy (the trading company located in Switzerland) became “KMG Trading AG» (subsidiary of KMG Rompetrol) and the sole national operator for the export of Kazakh crude oil to Europe and the Black Sea region. Also, before the company other goals have been set – to develop the logistics assets required for meeting Kazakhstan needs, and development of trading operations in order to enter new markets, according to the Rompetrol Group.
The Rompetrol Group has recently embraced a new operating model in alignment with the strategy for consolidation and development of the Rompetrol activities and operations in Romania and the Southeast Europe. The reorganisation of the activities will allow us to render the operations more flexible, with a significant impact on increasing the cost structure efficiency.
Following the purchase in 2007 of The Rompetrol Group by the national oil and gas company of Kazakhstan, Rompetrol has become an energetic bridge between the natural resources available in Central Asia and the relevant European markets. The reorganization of activities will allow an increase of operational flexibility, with an impact on cost efficiency, according to the Rompetrol Group.
On a European level, KMG International operates more than 1,100 filling stations in Romania, France, Spain, the Moldovian Republic, Georgia, Bulgaria under the brands Rompetrol and Dyneff. Also, The Group is owner of the Petromidia Năvodari and Vega Ploiesti refineries.
In Kazakhstan “KazMunayGas International” through its subsidiary Rominserv takes part in the modernization of the Pavlodar petrochemical plant, and is engaged in the provision of services in the sector of exploration and production of hydrocarbons through the company “Rompetrol Well Services”, according to the Rompetrol Group.