“The revenue was slightly down (in the first half i.e.), largely due to the international prices on the fuel market. Despite the decline, the sales volumes were constant in the first half,” the company officials explained.
With the oil price below $50 from the $115 in the summer of 2014, the fuel prices went down, too. According to ZF’s calculations based on the data on the OMV Petrom (SNP.RO) site, the average gas and diesel price was 10% lower in the first half of 2015 compared with the year-ago period.
The officials of the company estimate full-year revenue to reach EUR430 million, compared with the EUR428 million last year, according to Finance Ministry data.
Oscar Downstream was devised as a business focusing on corporate customers and has more than 1,000 DIESELpoint in-house fueling stations installed at large consumers. It also has its own network of stations, DIESELpoint Access, on the main commercial routes of the country. This is where companies, which hold a personalized card, can fuel their vehicle fleets.
“The most important investments of 2015 include building two new fuel storage facilities as greenfield investments, increasing our tank truck fleet from 26 to 40, introducing a new bigger station concept (the station in Giurgiu) and expanding our network by four stations (Cluj, Pitesti, Suceava and Galati),” Oscar Downstream representatives said.
Each greenfield storage facility required a EUR5 million investment, EUR2 million of which spent on the technology used by the facility.
The investments are part of the expansion and consolidation strategy Oscar Downstream started implementing in 2013, which will take five years to complete.
(English version by Loredana Fratila-Cristescu)