The company’s gross revenues increased 48% to $1.3 billion, from $884 million in January-March 2013, reflecting the increase in the volume of oil product sales, despite the lower international quotations for such products, Rompetrol said in a statement.
The company said its exports of oil products exceeded $600 million in the first quarter of the year. “The exports amounted to $1.7 billion in 2013, and the estimates show a 20%-30% increase in their level in 2014,” Rompetrol Rafinare said.
The refining company planned investments of more than $35 million for this year.
Petromidia, Rompetrol’s largest refinery, covers 43% of Romania’s refining capacity, with a capacity of over 5 milion tones/year.
Rompetrol Rafinare’s main shareholders are KMG International, in turn owned by Kazakh state-run oil company KazMunayGas, and the Romanian government.