Millionaire Gabriel Comănescu, the King of Offshore Business

Millionaire Gabriel Comănescu, the King of Offshore Business

Gabriel Comanescu is a wealthy businessman. His life is linked with offshore oil business.

Businessman Gabriel Comănescu emerged out of nowhere in 1997 when he decided to make a smart acquisition. He then bought the oil drilling company Foserco Târgu Ocna when it was privatized. Where he got the money from remains a mystery.

This is because nobody knows from where Gabriel Comănescu appeared and nor the source of his funding. What is certain is that he proved to be a good manager. As a result, in 2001 he bought another important factory from the state. More precisely, the investment was in the 1 Mai Ploiești machinery factory for the oil and gas industry.

However, after some time, both companies went bankrupt. The debts left to the state budget were 90 million lei. Comănescu did not give up. In 2004, he started over and established his main company. The one with which he subsequently developed all his businesses, more exactly Grup Servicii Petroliere.

As a result, in 2005 this new company took over the oil platforms from the state, more precisely from the former company Petrom. It seems that this time the money came from a loan taken from BCR. It was about a credit of 125 million dollars, which would have covered 85% of the entire value of the transaction.

Comănescu's companies are champions in debts to the state

"Regarding the platforms, it is not something new. They were bought with a syndicated loan arranged by Anglo-Romanian Bank London, together with BCR. Later Credit Suisse also entered. In the first stage, the loan was 100 and something million for purchasing the assets, platforms, and even with the assets in Iran, those two in Iran… (…) I had an understanding with Petrom since 2004 that I would start investing in platforms."

As a result, the new OMV Petrom began to rent the platforms from Comănescu's company. The two parties have a contract that expires in 2027. Also, Black Sea Oil & Gas carries out its activity with the help of Comănescu's companies. Also, in 2021 it was announced that his company was to benefit from 600 million euro projects from the PNRR.

However, there is something that stands out about Comănescu's companies: the debts to the state. Since the 2000s, he has left debts to the state, and now, his companies would accumulate claims of hundreds of millions at ANAF."

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