Its operating profit (EBITDA) grew 26% on the year in the first nine months, to over $152 million.
Its gross turnover reached $2.9 billion in the first nine months, up 12% on the year.
Rompetrol Rafinare operates Romanian oil refineries Petromidia and Vega.
“Constant operational records and positive financial results, as well as the significant impact that the two refineries have in the economy were achieved following the investments supported by KMG International and its unique shareholder, the national oil and gas company of Kazakhstan, KazMunayGas. Investments made to increase the processing capacity of Petromidia refinery, its flexibility and the modernization of industrial capabilities reached over $1.4 billion since 2007, the moment of the take-over,” said Yedil Utekov, general manager of Rompetrol Rafinare.
The company said growth was driven by the increase in the quantity of feedstock processed by the two refineries and growth in processing margins. In the first nine months, its gross refining margin grew 26%, it said.
Despite a halt in activity for overhauling in May, Rompetrol’s two refineries recorded a quantity of over 4.2 million tons of raw processed material in the first nine months, up 2% on the year.
Rompetrol Rafinare is the largest exporter of oil products in Romania. In the first nine months, through its refining and petrochemical units, exports totaled $855 million, 16% higher compared with the same period of 2016. The company exports mainly to its partners in the Black Sea region.
The majority shareholder of Rompetrol Rafinare is KMG International and the Romanian state hols 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.