Romania, Rompetrol Rafinare recorded increasing financial results in the first half of this year

, SEE Energy News

Rompetrol Rafinare, member company of the KMG International Group, recorded increasing financial results in the first half of this year, compared to the same period of 2020, as a result of the increase in sales, along with the positive evolution of international quotations for petroleum products.

General Manager of Rompetrol Rafinare Flix Crudu -Tesloveanu said that the relaxation of the restrictive measures, caused by the COVID-19 pandemic, led to an increase in mobility, and the operational processes were at a level in line with the market demand, which registered a positive trend. Occurred immediately after the closure of the first semester, the unfortunate incident on the Petromidia platform will have negative effects from an operational point of view, given that the production of the refinery is stopped, until the repair works in the affected units are finalized.

In the first six months of 2021, the Petromidia refinery operated without interruption, compared to the first half of 2020, when the largest profile unit in Romania was closed for the general turnaround of March-April 2020. Also, the demand, strongly affected by the pandemic context in 2020, has returned to levels similar to those of 2019.

The gross turnover of Rompetrol Rafinare in the first half of the year reached almost 2.3 billion dollars, and the operational profit (EBITDA) had a positive value of about 69 million dollars, compared to the negative value of 43.6 million dollars in H1 2020. Also, there was an improvement from the net negative result in H1 2020 – 126.5 million dollars, the net loss in H1 2021 being 22.8 million dollars.

Petromidia Refinery, which represents approximately 40 % of the refining capacity in Romania, processed, in the first 6 months of 2021, a total of 2.72 million tons of raw materials and obtained 701 kilotons of gasoline, respectively 1.37 million tons of diesel and special aviation fuel. In the first half of 2021, Petromidia refinery managed to obtain good results in the yield of white products (84.67 % wt) and the energy intensity index (100.95 %).

In turn, the Vega Ploiesti refinery, the only domestic producer of bitumen and hexane, processed 188 kilotons of raw materials in the first half of the year. The unit in Ploiesti recorded good results regarding energy consumption (2.56 GJ/t) and mechanical availability (98.7 %).

In the first half of the year, Rompetrol Rafinare made exports worth 545 million dollars, up 238 million dollars over the same period in 2020 (307 million dollars).

The main shareholders of Rompetrol Rafinare are KMG International (54.63 %) and the Romanian State through the Ministry of Energy with 44.7 % stake.