Rompetrol incurs losses of USD 19.5 million on refinery segment

Rompetrol Rafinare, a member of the Rompetrol Group, registered in the first quarter a negative operational result of USD 19.5 million, and a consolidated turnover increase of 29 percent, to more than USD 800 million.

According to company data, the financial results were influenced by the 68 percent drop in the refining margin, and the oil quotation rising by 72 percent.

Within the framework of the international evolution of the oil sector, the refinery segment represented by the Petromidia refinery and its branch Vega Ploiesti registered in Q1 a turnover increase of 28 percent, to USD 724 million, while the negative operational result of approximately USD 28 million was highly influenced by the low refining margins.

The total fuel sales of this segment reached 640,000 tons, down by approximately 16 percent

compared to the same period of 2009.

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The distribution segment, Rompetrol Downstream, Rom Oil, Rompetrol Logistics and Rompetrol Gas, registered in Q1 a turnover increase of 31percent, to USD 450 million, as well as a positive operational result (EBITDA) of some USD 7 million, down 26 percent compared to Q1 2009.

The positive results were supported by the company’s strategy to expand its own distribution and operational activity optimization network. Rompetrol Downstream

now operates 805 distribution stations, 25 percent more than in Q1 2009.

Dana Ciuraru