Oil company Rompetrol Rafinare, which is part of KMG International, registered a consolidated net profit of USD 14.8 million in the first nine months of 2015, compared to losses of USD 41.7 million in the same period of last year.

The company’s result was positively influenced by the higher quantity of raw materials processed by the Petromidia refinery and by the higher refining margins determined by lower international oil prices.

Rompetrol Rafinare processed 4.25 million tons of raw materials, 11% more than in the first nine months of 2014. The refining margins per ton were USD 12.68 higher compared to last year. Thus, the consolidated operational profit went up by 45%, to USD 91 million.

The group’s sales were 29% lower compared to last year, at USD 3 billion, as the international fuel prices have recorded a significant drop. In the third quarter of 2015 fuel prices were over 40% lower compared to the similar period of 2014.

Rompetrol Rafinare owns the Petromidia refinery at the Black Sea, a petrochemical plant, and 734 fuel stations.

editor@romania-insider.com