OMV Petrom Says Arpechim Refinery Shut on ‘Economics,’ No Fire

OMV Petrom SA, Romania’s largest oil company, said its Arpechim refinery is shut because the plant is unprofitable.

The plant “is currently in economic shutdown,” the Bucharest-based company said today in an e-mailed statement. The refinery in Pitesti has the capacity to process 70,000 barrels of crude a day, according to data compiled by Bloomberg.

A fire broke out at a “cooling tower from the petrochemical plant which belongs to Oltchim SA,” OMV Petrom said. “The fire was extinguished very quickly, there were no casualties and the installations of Arpechim refinery were not affected.”

The petrochemical plant is in the same industrial area as the refinery. Two officials at Oltchim’s offices couldn’t immediately comment on the fire when contacted by Bloomberg. They declined to be identified, citing company policy.

OMV Petrom SA is a unit of Austria’s OMV AG.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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