Former eMAG chief Iulian Stanciu and Adrian Crețoiu win approval to take over Gazprom's Romanian petrol stations
Romania's Competition Council has approved the indirect takeover of NIS Petrol, which runs the 19-station Gazprom network in Romania, by Argenta SRL, jointly controlled by Iulian Stanciu and Adrian Crețoiu.
The approval
Romania's Competition Council (Consiliul Concurenței) has issued decision 211/2026 clearing the acquisition of joint, indirect control of NIS Petrol SRL by Iulian Stanciu, a former head of eMAG, and Adrian Crețoiu, owner of the consultancy First All Energy Europe (FAEE). The council found that although the notified deal falls under the competition law, there are no serious doubts about its compatibility with a normal competitive environment. The notification was filed on 4 May 2026 and became effective on 12 August 2026, when the council received complete information.
How the deal is structured
The transaction rests on a sale and purchase agreement between NIS a.d. Novi Sad of Serbia, as seller, and Argenta, as buyer, covering 100% of the voting rights and share capital of NIS Petrol. Argenta is a Romanian metal construction company controlled jointly by the two entrepreneurs, with Crețoiu holding 60% and Stanciu 40%. The pair took over Argenta in 2025 from the GSP group of Gabriel Comănescu. Crețoiu and Stanciu also control Foraj Sonde Videle, which recently acquired Raffles Energy, a British holding company that owns Raffles Energy SRL and Zenith Resources SRL, two Romanian energy firms active in natural gas and electricity generation.
Competition assessment
The council found no horizontal overlaps between the parties' activities. It described the deal as a vertical integration, because the acquiring parties operate upstream as service providers while NIS Petrol works in a downstream market for the development, production and sale of crude oil. Market shares of the parties stay below 30%, which the council said rules out the creation of a dominant position in the Romanian market. The buyers must pay the authorisation fee within 30 days, calculated on the turnover reported by the notifying parties.
NIS Petrol's finances and sanctions
NIS Petrol has operated in Romania since 2012 and has posted losses every year since it was founded. According to data from the Ministry of Finance, the company reported losses of more than 94 million lei in 2025 on total revenue of about 205 million lei, and cumulative losses over the past 13 years exceed 600 million lei. The Serbian parent, NIS, is majority-owned by the Russian Gazprom, and the takeover is described by one outlet as part of a process of scaling back NIS operations in Romania amid US economic sanctions against Gazprom. HotNews reported that NIS Petrol is on the US sanctions list because of its Russian shareholders. The company also operates four petroleum perimeters in Timiș county under concessions granted from 2010.
Reporting timeline
The sale first surfaced in July 2026, when reports said Gazprom's Romanian stations had changed owner but did not name the buyer. The council's decision was reported by several Romanian outlets on 15 October 2026.
