Rompetrol Rafinare, the second largest oil company in Romania, last year increased its sales by 15%, to USD 5.6 billion.

The company’s operational profit (EBITDA) tripled from USD 29 million in 2013 to EUR 86 million in 2014.

Overall, the company’s losses went down by 39%, to EUR 58.4 million.

Rompetrol’s Petromidia refinery, one the biggest in Romania, processed 21% more raw materials last year, passing the 5 million tons mark.

The refinery sold 7% more fuels on the local market (1.74 million tons) and increased its exports by 38% (to 1.99 million tons).

In the fourth quarter, Rompetrol Rafinare’s sales went down by 13%, to USD 1.29 billion because of lower fuel prices, as the oil price tanked.

Rompetrol Rafinare is part of KMG International (the former Rompetrol Group), which is controlled by the state oil company of Kazakhstan KazMunayGas. The Romanian state also owns 44.7% of Rompetrol Rafinare’s shares.

editor@romania-insider.com