Biggest oil refiner in Romania records higher sales, lower profit in first nine months

Rompetrol Rafinare, the owner of the biggest oil refinery in Romania – Petromidia, recorded a consolidated gross turnover of USD 4.14 billion in the first nine months of this year, 44% higher compared to the same period of 2017, due to higher volumes and higher prices for oil products. The group’s operational result - EBITDA, however, was only 4% higher year-on-year, at USD 158.5 million, and the net result went down by 41%, to USD 33.3 million. The bottom line was affected by the volatility of raw materials and oil products and by negative impact from exchange rates and other non-recurring items. Rompetrol Rafinare is part of KMG International group. editor@romania-insider.com