The refinery RAFO Onesti increased its social capital to 432 million RON, following the shareholders’ decision to add 28.6 million RON, the equivalent of 11,449 000 shares. The sum is provided by shareholder Balkan Petroleum Ltd and is aimed at investments in environment protection and modernising technology.

The shareholders board also endorsed the purchasing of five new fuel distribution stations. The moves come on the background of some shareholders being under investigation for financial wrongdoings.

Businessman Marian Iancu was released a preventive arrest mandate last month, but court ruled to investigate him at large. Iancu is believed to have brought the Refinery Rafo a loss of 270 million RON.