Oil Terminal recorded in the first three months of this year a net profit of nearly 7.1 million lei, with 8.5% higher than the similar period in 2015 when the net profit reached 6,532 million lei, according to the financial information provided by the operator of the oil terminal in Constanța.

The turnover achieved during the same period was 37.355 million lei, with 2.894 million lei more than in the period from January to March 2015. The operating income amounted to about 37.1 million lei, while operating expenses reached about 27.98 million lei.

On March 31st, 2016, Oil Terminal has total debts of 54,544 million lei, of which 17,533 million lei were current liabilities.

Oil Terminal is interconnected with the Romanian refineries, through Conpet Ploiești Company. The oil terminal is connected to the national railway network, to the national road network and the Danube – Black Sea Canal.

The main competitors on the domestic market are the terminal from Midia harbor, operated by Rompetrol Rafinare, the terminal Unicom-Oil Terminal in Galați, Frial SA Constanța and Minmetal Constanța.

In early October 2015, a consortium of mainly US-based companies announced plans to lease a land in Constanța harbor, for the construction of an oil terminal worth about 350 million dollars.

“Our consortium (consisting of four companies – e.n.) will make a private investment, which will depend on a concession from the government for a land within the harbor. Of course, we compete for this concession, but we have done our homework in terms of preliminary engineering of the project, due to the involvement of Master Chem Oil in the project”, said Randy Tharp, Managing Director of the Romania Epstein company.

“With the involvement of US investors, we hope that over 51% of the investment will be with US funds. Then, we hope to address OPEC and other organizations for funding”, said Randy Tharp.

Regionally, the main competitors are the Omisalje harbor terminal in Croatia, which has fully incorporated the crude oil transit to Serbia and the Reni terminal in Ukraine.