KazMunayGas refineries in Romania triple net profit

Oil and gas company Rompetrol Rafinare, the Romanian subsidiary owned by the Kazakh group KazMunayGas that manages the Petromidia refinery, recorded a consolidated net profit of USD 56 million in the first nine months of this year, almost triple compared to the same period last year. The consolidated operating result amounted to USD 152.9 million during this period, up 26% year-on-year. The company’s gross turnover reached USD 2.87 billion between January and September, up 12% over the same period last year. The constant operational records are due to the investments carried out by KMG International, Rompetrol Rafinare general director Yedil Utekov said. The evolution of refining margins also positively influenced the financial results. The gross refining margin increased by 26% in the first nine months of this year compared to the same period last year. Rompetrol Rafinare operates the Petromidia and Vega Ploiesti refineries in Romania. editor@romania-insider.com