"I would be happy to have the Romanian state as a partner in Rompetrol", Saduokhas Meraliyev, the CEO of the "Rompetrol Group" said yesterday, more or less seriously, implying that the Romanian state has agreed to the partial buyback of the bonds issue of 570 million Euros, at the current negotiation stage. The bonds are due in September this year, and the Romanian state runs the risk of becoming a shareholder la "Rompetrol Rafinare" again, if the company does not buy back the entirety of its bonds issue.

"We have not signed a final agreement with the Ministry of Finance, even though over the last few weeks we have negotiated the payment of a first tranche of 118 million lei. Rompetrol has the option of buying back the bonds in full or in part. Besides, over the course of the last years we have paid nearly 270 million dollars in interests. The interest rate is rather high on this bond issue", said Meraliyev.

Even though it seems they will not pay their debt to the Romanian state in full this year, the Kazakhs are apparently certain they won"t have a surprise shareholder, if the Romanian state were to decide to sell its stake in "Rompetrol Rafinare".

"It is very likely that if the state becomes a shareholder of Rompetrol again, it will be looking to sell its stake to another investors. If that were to happen, we have the right of first refusal, which will allow us to have priority over outside investors in buying the shares", said the CEO of "Rompetrol".

"Rompetrol Rafinare" currently has a share capital increase of 450 million lei (around 120 million dollars) under way, which will be used to pay back part of the amount owed. The share capital increase has coincided with the delisting procedure for the company, which the management of "Rompetrol" has requested after the completion of the public takeover bid. The Romanian Securities Commission