Prague, 16 October 1996 (RFE/RL) -- World oil industry giants Shell and Agip are criticizing Romania's privatization policy.
In an open letter to the newly-founded Romanian oil company, ROC, the foreign oil companies assert discriminatory practices affecting private investors in the country. Both Shell and Agip have investments in Romania.
They warn in their open letter that ROC policies could jeopardize other investments in state-owned assests. In addition to maintaining a virtual monopoly on oil production, import and distribution in Romania, ROC controls 49 percent of the shares that will be offered for sale on the open market.
In an open letter to the newly-founded Romanian oil company, ROC, the foreign oil companies assert discriminatory practices affecting private investors in the country. Both Shell and Agip have investments in Romania.
They warn in their open letter that ROC policies could jeopardize other investments in state-owned assests. In addition to maintaining a virtual monopoly on oil production, import and distribution in Romania, ROC controls 49 percent of the shares that will be offered for sale on the open market.