Romanian Rompetrol Rafinare sees higher profit, lower turnover

Romanian oil company Rompetrol Rafinare, which is part of KMG International, recorded a consolidated net profit of USD 14.8 million in the first nine months of last year. By comparison, the company saw losses of USD 41.7 million in the same period in 2014. The operating result totaled USD 91 million, up by 45% year-on-year. The company saw better results due to the higher volumes processed at the company's three production facilities. These include the refineries Petromidia, Vega, and the Petrochemicals division. They have processed 4.25 million tons of raw material, 11% more compared to the same period in 2014. The net refining margins grew by USD 12.6 per ton in the first nine months of 2015 compared to the same period of the previous year. The gross turnover amounted to USD 3 billion during this period, down by 29% year-on-year. This was due to lower international prices of petroleum products. editor@romania-insider.com