Rompetrol Rafinare, a member company of the KMG International Group, recorded, in the first half of this year (H1), increasing financial indicators, on the background of developments in international quotations for raw materials (crude oil, bio components, etc.) and petroleum products, as well as refining margin.

“In the first half of the year, our company played an important role in the stability of fuel supply to customers in Romania and the region, despite the influences generated by the situation in the Black Sea region. The continuation of the investment program, the completion of scheduled turnaround works within the estimated period, the rapid alignment of production with the demand for petroleum products, the focus on the continuous improvement of operational flows and production costs supported the achievement of these positive results, in conditions of maximum safety, performance and environmental protection”, said Felix Crudu-Tesloveanu, General Director of Rompetrol Rafinare.

Thus, between January and June 2022, the company recorded a gross turnover of almost 3 billion dollars, an operational profit (EBITDA) of about 174 million dollars and a positive net result of 58.3 million dollars. In H1 2021, a net loss of 22.8 million lei was recorded.

The financial results were significantly influenced by market volatility, but also by a growing local and regional demand for petroleum products (agriculture and transport), factors that determined record levels of refining margins. The European refining margin increased by 302.2 USD/MT in Q2 2022 compared to Q2 2021 and averaged at 303.9 USD/MT. Half-yearly, the increase was weighed down by lower levels in the first quarter of the year, so the European margin averaged at 188.9 USD/MT.

Rompetrol Rafinare was, also in the first part of the year, an important contributor to Romania’s state budget, with a contribution of 347 million dollars in the second quarter of the year and over 696 million dollars in the first half of 2022.

The significant shareholders of Rompetrol Rafinare SA are KMG International (54.63% – directly and indirectly) and the Romanian State through the Ministry of Energy (44.7%).