Petromidia Refinery

[2] Its launch was spurred by the 1973 oil crisis, following which Romanian dictator Nicolae Ceaușescu met with Mohammad Reza Pahlavi of Iran.

[3] The arrangement involving cheap oil soon ended with the Iranian Revolution, forcing Romania to seek unsatisfactory deals with African countries.

[4] In 1991 the Midia Năvodari Petrochemical Factory was transformed into a joint stock company and the name was changed to SC Petromidia SA.

[2] Between July 1998 and January 1999 a new round of negotiations were finalised and the Turkish company Akmaya was chosen as a strategic investor, offering a per share price of US$ 10.1.

However, the Ministry of Internal Affairs of Romania said the city of Năvodari was not in danger but advised its inhabitants to keep their windows closed and announced that some of the smoke that was reaching the coast did so on beaches with not much people.

Image of the Petromidia Refinery after the 2021 explosion