EnglishPetrom will set up in two-three weeks a new petrochemical company, by splitting petrochemicals from its refinery operations. The spinoff, Petrom Petrochemicals Arges, will operate as a self sufficient company. Petrom has decided to outsource its petrochemical activities and is currently in negotiations with Oltchim, the chemicals manufacturer being interested in taking over these activities.
Although several other European companies are interested in Petrochemicals Arges, Petrom sees Oltchim as a prefferable partner, according to Mariana Gheorghe, CEO of Petrom.
Oltchim produces chemical fertilizers and needs pyrolysis in order to become independent in terms of raw material. Arpechim produces two of the main raw materials used by Oltchim, namely ethylene and propylene.
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