Rompetrol Rafinare reports USD 49 mln turnover in H1

Newsroom 12/08/2011 | 15:39

Rompetrol Rafinare (Refining), company member of The Rompetrol Group, has registered a consolidated turnover of USD 2.42 billion for the first half of 2011, which is a 37 percent increase to the USD 1.76 billion in the first half of 2010.

In the same period, the company improved its operational result, from negative results of USD 24.7 million in the first half of 2010, up to USD 49 million. Rompetrol Rafinare also reduced its net result losses, from a negative value of USD 119 million, in the first half of 2010 to USD 63.7 million. The company contributed a total of USD 585 million to the state budget, almost half of the 2010 contributions.  

Refining

In the refining sector, Rompetrol-Rafinare refinery and the work point Vega Ploiesti, recorded a turnover of USD 2.16 billion in the first half of 2011, a 42 percent increase to the USD 1.51 billion posted in the first half of 2010. The operational results also improved from negative USD 29.2 million in the first half of 2010 to USD 19.3 million. Also, the company has improved the net results with 63 percent, from a negative USD 93 million in the first half of 2010 to a negative USD 34.8 million.

Distribution

The fuel sale in the first half of 2011 increased by 7 percent to 1.42 million tons. The Rompetrol Group wants to invest a total of USD 234 million in improving capacity for its Petromidia refinery. Projects of USD 234 million for modernizations and increased production capacity have already been implemented.

The turnover accomplished by the distribution segment has risen with 30% in the first half up to a level of over USD 1.3 billion. In the same period, the retail sector obtained an operational result of USD 18 million, compared to a negative result of USD 0.7 million and a net loss of USD 30.5 million, against a negative level of USD 20.7 million.

For the same period, the total fuel sales have increased by 4 percent, Rompetrol Downstream recorded a decrease of 3 percent on the retail segment and an increase of 11 percent on en-gross sales.

Petrochemicals

The petrochemicals segment, represented by Rompetrol Petrochemicals, has recorded in the first half a growth of 35 percent of the gross turnover year-on-year, up to a level of USD 197.4 million, amid the improvement of international quotations for petrochemical products and the rise of the sold quantities.

Within the first half, the company obtained a net profit of about USD 360.000, compared to a net loss of USD 3.1 million and an operational result of over USD 9 million, a 68 percent increase to the first semester of 2010.

Ovidiu Posirca

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