Type public Key people Marin Anton, CEO Revenue US$ 482 million (2007) Founded 1966 | Industry Oil refining Products Oil products Headquarters Onești, Romania | |
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Traded as BVB: RAF
foundation = 1966 | ||
RAFO Oneşti is 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 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 and increased the capital by US$860 million.
The company also operates a chain of 290 gas stations, of which it owns 45, the rest being business associations.
The refinery is currently shut down for maintenance and installation upgrading until 2009 at a total cost of US$520 million.