Rompetrol Rafinare, member company of the KMG International Group, recorded, in 2022, an improvement in financial indicators, as a result of higher European refining margins compared to 2021, supported by an increasing production level.
“Rompetrol Rafinare remained, in 2022, a factor of national and regional stability, through the impact generated by the petroleum products distributed in Romania and the Black Sea area. The previous year was a complex one, with an atypical regional context and an general turnaround carried out in time and in complete safety. However, our refineries had a high degree of utilization and supported the designed operational plans, in the best conditions of work safety and environmental protection,” said Felix Crudu – Tesloveanu, General Manager of Rompetrol Rafinare.
The gross turnover achieved by Rompetrol Rafinare, in 2022, was more than 6.5 billion dollars, increasing by 42%, the operational profit (EBITDA) was about 464 million dollars, and the net result recorded a positive value of 90.3 million dollars, as compared to a loss of 186.8 million dollars in 2021.
In 2022, there were a number of factors that had an impact on the preliminary financial results, such as the sanctions imposed by the European Union, which influenced the supply of raw materials in the market or the increase in utility prices, especially natural gas and electricity.
However, the company took all the necessary measures to to adapt to market conditions and managed, with the support of KazMunayGas and the trading division of the KMG International Group (Rompetrol), to ensure a stable flow of crude oil for the Petromidia refinery, thus securing uninterrupted deliveries, especially for the Romanian market.
In 2022, Rompetrol Rafinare made exports of more than 1.7 billion dollars. The total quantities exported by the Petromidia, Vega refineries and the Petrochemical Division of Rompetrol Rafinare amounted to approximately 1.8 million of tons.
The company is also a major contributor to Romania’s state budget, paying over 425 million USD in the 4th quarter of 2022, respectively 1.56 billion USD throughout the previous year. The value includes all taxes owed and paid by Rompetrol Rafinare to the Romanian state, such as: excise duties, VAT, salary contributions and other taxes.
Regarding the windfall tax, the company estimates a contribution of 124.6 million dollars, reflected it in the unaudited preliminary financial statements for the year 2022. In accordance with the law that will approve OUG 186, the exact amount of the windfall tax will be determined, which Rompetrol Rafinare would pay, complying with all the regulations in force.
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%).
