Rompetrol completes first step of USD 50 mln investment due by 2012

Rompetrol Rafinare, part of the Rompetrol Group, has finished the first stage of its delayed coking unit revamp. The project phase consists of purchasing a technology license and the drafting of the basic engineering design, in partnership with ConocoPhillips, an international oil sector leader.

“The revamp continues the series of investments of the Rompetrol Group meant to increase the capacity and complexity of the Petromidia refinery. The estimated value of the project amounts to USD 50 million, and its completion, planned for 2012, will support both the increase in productivity of basic products and the improvement of environmental conditions,” said Cosmin Turcu, Rompetrol Rafinare GM.

Rompetrol Rafinare registered a consolidated turnover increase of 29 percent in Q1, more than USD 800 million, compared to the same period of 2009, and a negative operational result of USD 19.5 million.

According to company information, the financial results have been influenced by the level of the refining margin falling by 68 percent, and the oil quotation rising by 72 percent.

Dana Ciuraru

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