In January-September 2011, the company reported sales of RON58.4 million.

Oil Terminal said net profit dropped to RON54,000, from RON1.7 million in the year-ago months.

Oil Terminal reported total revenue of RON83.7 million in the first nine months, down 8.23% on the year, while overall costs declined 6.1% to RON82.9 million.

The lower revenue reflected a 7.7% drop in operating income, the company said in its financial report.

The company is 59.6% owned by the Economy Ministry, while investment fund Fondul Proprietatea holds 8.45%.

On the Bucharest bourse Thursday, Oil Terminal closed flat at RON0.1577 a share. (EUR1=RON4.5156)