Romania: Fuel Distributor to list on Bucharest Exchange

by Ship & Bunker News Team
Tuesday May 28, 2024

Romanian oil products company JT Grup Oil is to list on the Bucharest stock exchange. The fuel distributor is looking to raise up to EUR 13 million ($14m) in return for 28.5% of the company's shares. 

Proceeds from the sale will go towards finance for working capital, develop retail fuel stations and the purchase of tank trucks, according to local business news provider Romania Insider.

A key project for the company is an oil products terminal being developed in the port of Constantza. The privately owned terminal is slated to have a total storage capacity of 31,500 metric tonnes.

JT Grup Oil has been supplying marine diesel to shipping since 2023.