Romania, Conpet Ploiesti recorded a net profit in the amount of 36.9 million euros in H1 2022

, SEE Energy News

Romanian state-owned oil pipeline operator Conpet Ploiesti recorded a net profit in the amount of 36.9 million euros in the first half of 2022, which is an increase of 24.8 % compared to the same period last year.

The company’s operating revenues increased by 13.6 % year-on-year, reaching 53.3 million euros in the first six months of the year. Operating expenses rose by 12.7 % to 46 million euros, mostly due to higher costs of electricity, oil royalty, personnel and natural gas.

In the first half of 2022, the volume of oil, rich gas, ethane and condensate carried by Conpet rose by 2.9 % year-on-year to 3.4 million tons.

Conpet’s primary activities include transportation of crude oil, condensate oil, ethane and condensate through pipelines and railway in order to supply crude oil to Romanian and Balkan refineries. It operates 3,800 kilometers long nationwide network of oil pipelines.