Romania: Oil Terminal achieved 1.58 million euros profit in the first quarter

, SEE Energy News

The company which operates the oil terminal in Constanta port, OIl Terminal has recorded net profit in the amount of 1.58 million euros in the first quarter of 2016, which is 8.5 % more compared to the same period last year when it amounted to 1.45 million euros.

In this year’s first quarter, the company’s turnover rose to 8.3 million euros, which is 0.64 million euros more than a year before. Operating revenues amounted to 8.23 million euros, while operating expenditures reached 6.2 million euros. Total debt at the end of first quarter amounted to 12.1 million euros, of which 3.9 million euros represent short-term liabilities.

Main competitors of Constanta oil terminal are the terminals operated by Rompetrol Rafinare in Midia port and the Unicom-Oil terminal in Galati. Its regional competitors are oil terminal at Omisalj in Croatia, which has fully taken over the oil transit towards Serbia and Reni oil terminal in Ukraine.

The Romanian state is the major shareholder in Oil Terminal and holds 59.62 % stake through the Ministry of Economy, transmits