Space Industry and Business News  
OIL AND GAS
Romania seizes KazMunaiGaz refinery in tax probe
by Staff Writers
Bucharest (AFP) May 9, 2016


Romanian prosecutors said Monday they had seized a refinery held by Kazakhstan's KazMunaiGaz, which recently came under Chinese control, in a tax fraud probe.

The seizure of the Petromidia refinery in eastern Romania is part of an investigation into tax evasion, money laundering and fraud.

KazMunaiGaz is accused of failing to settle debts contracted by former Petromidia owners Rompetrol which KazMunaiGaz took over in 2007.

"The prosecutor's work is ongoing," Mihaela Porime, a spokeswoman for Romania's anti-organised crime investigation unit, DIICOT, told AFP.

Seized assets at the refinery total 3 billion lei (660 million euros, $752 million).

Chinese group China Energy Company Ltd said last month it was acquiring 51 percent in KazMunaiGaz.

KazMunaiGaz managers are to be questioned in Bucharest on Tuesday over the debt accusations, the spokeswoman said.

KazMunaiGaz has been the target of several court actions over the Rompetrol debt dating back to 2001 and estimated at $570 million including compound interest.

KazMunaiGaz promised to pay $200 million to settle the cases, but has not actually paid out any funds, according to the Romanian government.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
U.S. seen as strategic energy partner for Europe
Washington (UPI) May 5, 2016
The United States has an important role to play in adding diversity to a European energy sector that depends heavily on Russia, a joint regional committee said. European Energy Commissioner Miguel Arias Canete and Vice President Maros Sefcovic led a delegation to Washington D.C. to meet with U.S. Energy Secretary Ernest Moniz and Secretary of State John Kerry to review bilateral energy ... read more


OIL AND GAS
Cavitation intensity enhanced using pressure at bubble collapse region

Hybrid nanoantennas offer new platform for ultradense data recording

Squished cells could shape design of synthetic materials

Engineers create a better way to boil water

OIL AND GAS
Elbit receives European order for tactical radios

Haigh-Farr showcases Antenna Solutions at DATT Summit

U.S. Army orders radios for Mid-East, African countries

Harris supplies tactical radios to African country

OIL AND GAS
SpaceX to launch Japanese satellite early Friday

New small launch vehicles

Vector Space Systems aims to redefine space commerce

Spaceport Camden Partners with NASA Innovation Competition

OIL AND GAS
Satellites 11 and 12 join working Galileo fleet

Operation of 'Indian GPS' will take some more time: ISRO

Air Force awards GPS 3 launch services contract

India gets homegrown satellite navigation system

OIL AND GAS
New discovery may help engineers design quieter jet airplanes

Saab to continue Swedish military helicopter support

China Eastern Airlines to buy 35 planes from Airbus and Boeing

Raytheon producing targeting system variant for Air Force

OIL AND GAS
Researchers create a first frequency comb of time-bin entangled qubits

A brand-new way to produce electron spin currents

NREL offers path to high-performance 2-D semiconductor devices

Atoms placed precisely in silicon can act as quantum simulator

OIL AND GAS
Cracking the Code in Satellite Data

Satellite coverage for polar bears and penguins

Sentinel-1B delivers

BlackSky inks US deal to enhance global decision-making

OIL AND GAS
Mexico City businesses say smog alert cost $300 mn

Diesel cab drivers protest ban in India's smog-choked capital

Tonnes of clams die in Vietnam as toxic leak fears mount

Computers play a crucial role in preserving the Earth









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.