„Rompetrol Rafinare Group reported a consolidated gross turnover of over $1.718 billion in the first six months of 2017, higher than the level reported in the year-earlier period, mainly due to the volatility of international prices of oil products”, the company said in a report published on the Bucharest Stock Exchange.
Rompetrol Group is controlled by KazMunayGas Kazahastan and indirectly by a Chinese investor.
„In the first half of 2017, crude oil prices were strongly impacted by additional crude oil volumes generated by higher output in an attempt by producers to achieve the same level of revenue considering that unitary prices were relatively low. The beginning of the year was marked by high prices of oil products which subsequently saw a constant downtrend trend due to high crude oil volumes on the international market. Thus, the average crude oil Brent prices reached around $52/bbl (barrels) in the mentioned period, significantly higher than $40/bbl in the same period in 2016”, according to the report.