Acasă » Oil&Gas » Exploration & production » Rompetrol Rafinare – higher turnover and profit, in spite of the drop in oil prices

Rompetrol Rafinare – higher turnover and profit, in spite of the drop in oil prices


Rompetrol Rafinare, member company of the KMG International Group (Rompetrol), reached, in the first quarter of 2023, a consolidated gross turnover of about 1.3 billion dollars, up 10% compared to the same period last year. The evolution was driven by the higher amount of raw materials processed and products obtained in the Petromidia refinery, which supported the increase in sales volumes compared to Q1 2022.

The operational profit (EBITDA) recorded was 100 million dollars, and the net result was a positive one, of 14.5 million dollars, despite the decrease in quotations on the international market of crude oil and refined products – decreases of 20% to crude oil, 10% for gasoline and 8% for diesel compared to Q1 levels last year.

The increasing results were also achieved in the context where, for approximately 10 days, the Petromidia refinery operated at reduced capacity for maintenance work, at the beginning of February.

Rompetrol Rafinare continued to sell the products obtained, mainly on the domestic market, to ensure the increased demand for fuels in Romania. Thus, in Q1 2023, the company directed 63% of the gasoline and diesel produced in Petromidia to the domestic market.

At the same time, Rompetrol Rafinare supported, with important volumes of petroleum products, the subsidiaries of the KMG International Group, Rompetrol being the most important fuel supplier in the Republic of Moldova, Georgia and with a significant presence in Bulgaria.

The total value of exports made by Rompetrol Rafinare (through the refining and petrochemical divisions) in the first quarter of the year amounted to 334 million dollars, up 22% compared to the Q1 2022 period, against the background of a 45% higher volume of the quantities of exported products – 462 thousand tons in the period January – March 2023.

Rompetrol Rafinare was, also in the first quarter of the year, a major contributor to Romania’s state budget, paying over 367 million dollars in the first three months of 2023.

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%).

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