The Petromidia refinery reached last year a new historical daily processing record since the incorporation of the industrial platform (1979), 5.66 million tons per year, the equivalent of 16,800 tons per day, 5% higher than in 2016. Since taking over the businesses, KMG International and its sole shareholder KazMunayGas, Kazakhstan’s national gas and petroleum company, invested over $1.4 billion, said Yetil Utekov, general manager of Rompetrol Rafinare.
The company’s EBITDA amounted to over $210 million, up 13% compared with 2016, and its gross turnover exceeded $4 billion (+16%).
The company’s financial results were also positively influenced by the gross refining margin which in 2017 has improved by 20% compared with 2016, as well as due to production process optimization programs.
Rompetrol Rafinare’s exports, carried on through the refining and petrochemicals divisions, amounted to $1.34 billion, up 22% compared with 2016. Exports were mainly to Rompetrol gas stations in Moldova, Bulgaria, Georgia, and partners in the Black Sea region.
In 2017 fuel sales increased by 9% on the retail segment and 6% on the wholesale segment. The biggest growth in sales was recorded on the LPG segment, which grew 33% compared with 2016.
The main shareholders of Rompetrol Rafinare SA are the KMG International (54.63%; directly and indirectly) and the Romanian state through the Ministry of Energy (44.69%).
Rompetrol Rafinare operates the Petromidia refinery, the Vega refinery, and the petrochemicals division, Rompetrol Downstream operates the gas station network and the Rom Oil warehouse network.