Romania: Profit slightly rose at Conpet Ploiesti in first half of 2020

, SEE Energy News

In the first half of this year, Conpet Ploiesti a Romanian state-owned oil pipeline operator has posted a net profit in the amount of 6.58 million euros. This amount is 1.9 % higher compared to the same period last year.

The company’s operating revenues in the first six months of the year amounted to 45.6 million euros, which is an 1.9 % increase compared to the first half of 2019. Operating expenses also rose by 2.1 % to 38.7 million euros. The operating profit realized in the first half of 2020, compared to a year before, registered an increase of 0.9 % to 6.9 million euros.

During the January-June 2020 period, Conpet made investments worth 9.3 million euros, out of total of 20.2 million euros planned for this year. The company transported 1.74 million tons of domestic products – crude oil, condensate and petrol, 0.5 % more than in H1 2019 and almost 1.7 million tons of imported products, which is 9 % more planned. 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.