The consolidated operating income (EBITDA) also showed an increase, by 60%, during the first 6 months of 2016 compared to the same period of 2015, amounting to $90 million, the company said in a statement.
The positive trend of company’s KPIs was supported by the quantities of raw materials processed during the first half of 2016 by Petromidia and Vega refineries (+4%), after the processes optimization programs. The fuel sales also increased, mainly on the domestic market (+10% in the first half of 2016 compared to similar period of 2015).
The Petromidia refinery reached a new production record for the first half of 2016. The quantity of raw materials processed exceeded 17 thousand tons per day in June, the largest daily capacity since commissioning (1979). Petromidia reached a new record for reduction of power consumption, EII (Energy Intensity Index) reaching the lowest level in the history of this production facility – 90.8 points. Also, Vega refinery processed 35.8 thousand tons of bitumen, more than initially estimated, supported by a regional increase of demand.
Rompetrol Rafinare exported a total of over 1,3 million tons of products in the first half of 2016, a similar level to the similar period of 2015. The company is Romania’s largest exporter of oil products and the second national exporter.
In developing its activities, Rompetrol Rafinare remained an important tax payer to Romania’s national budget, paying in excess of $343 million in the second quarter of 2016 and in excess of $608 million during the first quarter of 2016. KMG International had paid, since 2007, in excess of $13 billion to Romania’s state budget.
Starting on January 1st 2014, the petrochemical activity was provided by Rompetrol Rafinare SA., being completely integrated in the propylene flow, utilities and logistics. The petrochemical segment is the only polyethylene and polypropylene manufacturer in Romania, consistently increasing its market share also for ancillary products.
The company processed 65 thousand tons of propylene in the first half of 2016, a 4% increase compared to the same period of 2015. Also, the quantity of ethylene processed was higher in the first half of 2016 by 7% (31 thousand tons).
Supported by the increase of production for these two raw materials, the sales in petrochemistry increased by 6% in the first half of 2016 compared to the first half of 2015, and by 11% in the second quarter of 2016 compared to the second quarter of 2015.
On the distribution segment, the operating income EBITDA amounted to $26.5 million in the first half of 2016, increasing by 3% compared to the same period of 2015. During the first 6 months of 2016, the gross turnover for the distribution segment, exceeding $1 billion, showed a decrease by 7% compared to the first 6 months of 2015, based on the descending trend of international quotations for oil products.
The fuel showed a significant increase, mainly on the wholesale market (+19% in 1st half of 2016 compared to similar period of 2015). Also, the sales of liquefied petroleum gas (LPG) increased by 5% during the first semester of 2016, compared to similar period of 2015.
At the end of June 2016, Rompetrol Downstream’s distribution segment included 716 outlets, of which 137 own network stations (97 of which were operated by dealers), 118 partner stations and 461 mobile stations operated by clients and dealers.