Second largest oil company in Romania lowers turnover by 40%

Rompetrol Rafinare, the second largest oil company in Romania, reduced its turnover by 40% in the first quarter of the year, to USD 657.8 million (some EUR 576.5 million). The lower prices of oil products offset the higher volume deliveries. Rompetrol’s Petromidia refinery produced 320,000 tonnes of gasoline, down 4%. However, it increased its diesel and aviation fuel production by 10%, to 649,000 tonnes. The company exported over 60% of its total output. Rompetrol sold 132,000 tonnes of fuel through its retail network, which includes 740 units. Rompetrol Rafinare is part of KMG International (the former Rompetrol Group), controlled by KazMunayGas, Kazakhstan’s state oil company. The Romanian state also owns 44.7% of Rompetrol Rafinare’s shares. editor@romania-insider.com