Romania’s Rompetrol Rafinare expects higher turnover this year

Romanian oil company Rompetrol Rafinare estimates a gross turnover of some USD 5.3 billion for this year, almost 10 percent higher than the previous year. The company also expects lower losses this year, of USD 63.9 million, down from around USD 99 million in 2013, shows the company’s budget for 2014, quoted by local daily Ziarul Financiar. The revenues and expenses budget for 2014 is to be discussed during a shareholders’ meeting scheduled for April 29. Rompetrol Rafinare’s gross turnover improved 6 percent last year to almost USD 4.9 billion. The company’s exports amounted to USD 1.7 billion at the end of 2013, similar to the 2012 level. In the last quarter of the year, the company’s consolidated negative result decreased by 73 percent compared to the same period in 2012, with a negative value of USD 12.8 million. Irina Popescu, irina.popescu@romania-insider.com