The Ministry of Energy, as a major shareholder, has called for the convening of the Ordinary General Meeting of Shareholders Oil Terminal Constanţa, proposing on the agenda the revocation of some members of the Board of Directors, a document submitted by the Bucharest Stock Exchange (BSE) company shows.

The Ministry of Energy, which holds 59.62% of the company’s share capital, requested the convening of the ordinary general meeting of the shareholders on the agenda: “revocation of some members of the Board of Directors from Oil Terminal” and “appointment of provisional members Of the Board of Directors of Oil Terminal on vacant seats” following the revocation of point 1, the document shows. At the same meeting, the term of office of the temporary members of the Board of Directors and the remuneration of the temporary members of the Board shall be determined.

Oil Terminal posted a net profit of 11.41 million lei in the first half of this year, decreasing by almost 22% compared to the first part of last year, of 14.55 million lei. Operating revenues reached 76.8 million lei, down by about 3% compared to the first six months of the previous year, according to News.ro. Oil Terminal Constanţa has a storage capacity of about 1.5 million cubic meters and is the largest operator at sea in the port of Constanta, specialized in the handling of crude oil, petroleum products, liquid petrochemicals and other finished products or liquid raw materials for import, export and transit.

The main competitors on the domestic market of Oil Terminal are: Midia Port Terminal, operated by Rompetrol Rafinare, Terminal Unicom-Oil Terminal in Galati, Frial SA Constanţa and Minmetal SA Constanţa.