The Rompetrol group, controlled by Kazakh-held KazMunaiGaz, with around seven billion dollars in turnover per year, has asked the capital market arbiter, the National Securities Commission, for 50 million dollars in damages because the institution is blocking Petromidia's delisting from the Stock Exchange. This is the biggest damage ever claimed in the history of the Romanian capital market. The value of the damage claimed is the equivalent of the Commission's eight-year revenues, 19.8 million RON (4.7 million euros) in 2009, which were in fact much lower than the overall 32.1 million RON (7.6 million euros) in spending.

The Finance Ministry, which asked for the delisting of Rompetrol Rafinare to be blocked, is seeking in every way to keep the company on the Stock Exchange, challenging the company's 450 million-RON capital increase before the Constanţa Court, according to capital market sources, quoted by Mediafax news agency. The challenging of the move could block the delisting of Rompetrol, and lead to a deepening of the conflict.

CNVM decided on July 28th to block the delisting of Rompetrol Rafinare (RRC), the company that owns Petromidia refinery, until the legal aspects of the bonds held by the Finance Ministry in the company are clarified. The Ministry has a 571 million-euro receivable convertible into equity on Petromidia.

The Rompetrol group, controlled by Kazakh-held KazMunaiGaz, with around seven billion dollars in turnover per year, has asked the capital market arbiter, the National Securities Commission, for 50 million dollars in damages because the institution is blocking Petromidia's delisting from the Stock Exchange. This is the biggest damage ever claimed in the history of the Romanian capital market. The value of the damage claimed is the equivalent of the Commission's eight-year revenues, 19.8 million RON (4.7 million eu