KazMunayGas denies plans to sell Romanian assets

Kazakhstan’s state-owned oil and gas company, KazMunayGas (KMG), has denied reports that it is planning to sell its Romanian assets.

According to a statement from KMG’s press service, the company is operating normally and meeting its production and financial targets, Caliber.Az reports via foreign media.

“Regarding information about the privatisation of KMG International N.V. (KMGI), KMG confirms that no decisions on the privatisation of KMGI have been made at this time,” the statement said.

Earlier, the website of Kazakhstan’s National Privatisation Office published a list of assets with an option to “submit an application” for KMG International N.V., noting that the sale could take place through a two-stage direct tender in 2026–2027.

KMG added that the preparation of a comprehensive privatisation plan is a regular practice. “The list may include companies from various sectors. This is a standard, long-term process that takes multiple factors into account,” the company said.

The National Privatisation Office, established on May 28, 2024 under a presidential decree on economic liberalisation, includes senior officials, experts, and regional leaders. 

The office reviews the state’s presence in sectors such as IT, geology, oil services, and construction.

By Aghakazim Guliyev