„The 45 days full site Petrobrazi refinery turnaround is expected to have impacted the Q2/18 Downstream Oil Clean CCS Operating Result by around RON 150 mn compared to Q1/18”, according to the report.
„This turnaround also led to higher levels of own crude oil stored, thus translating into not yet realized profits at the Group level of approximately RON 260 mn, which are eliminated in the consolidation line”, the report also reads.
The full-site turnaround of Petrobrazi Refinery started on April 13, 2018 and took six weeks, during which time the unit was shut down.
The turnaround consisted of maintenance works, inspections and verifications of facilities as well as modernization investments for a series of the main units of the refinery. Verifications targeted 3,720 pipelines and 9,300 pieces of electronic and automation equipment. The budget for this project exceeded EUR45 million, adding to the over EUR1.5 billion already invested in the modernization of Petrobrazi between 2005 and 2017.
Following the completion of the modernization works planned for this year, the mean time between turnarounds will increase to four years, with the next turnaround scheduled for 2022.
Petrobrazi refinery, with an annual refining capacity of 4.5 million tons of crude oil, is one of the most important units of this profile in the country. The Petrobrazi output can cover the necessary fuel for 3 million cars per year.