Rompetrol Rafinare increases its turnover in the first quarter by 48 pct to 1.3 billion dollar

Rompetrol Rafinare yesterday posted the financial results for Q1 2014, indicating a consolidated turnover of 1.3 billion dollar, up by 48 percent year-on-year and a 9.3 billion dollar operating result compared to a negative value of 120,000 dollar in the same period of 2013. However, the net result corresponding to the first quarter of this year has increased the negative value recorded in Q1 2013 by some 6.5 percent, hence the net loss amounts to 26.8 million dollar.

“The company’s consolidated financial results have been positively influenced by the increase in the quantities produced and sold, compared to the same period of last year, and negatively influenced by the evolution of international quotations for crude oil and oil products. Due to a 8 percent drop for gasoline and 5 percent for Diesel oil in Q1 2014, the crude oil dropped by 4 percent, the average quotations being above USD 108/bbl for the Brent-type crude oil and approx. USD 107.5/bbl for the Urals-type”, is explained in a press release of Rompetrol Rafinare.

In the refinery and petrochemical segment, Rompetrol Rafinare recorded revenues of 1.21 billion dollar, advancing by 56 percent yoy on the sale of higher volumes of oil products. The growth in sales was determined by a continuous increase of production at Petromidia refinery which totaled 1.18 million tons of raw material, 87 percent higher than in Q1 2013.

The distribution segment has also seen positive results in terms of gross turnover which rose by 28 percent yoy to some 645.9 million dollar, influenced  by the wholesale volumes which increased by 65 percent over the same period of last year.

Rompetrol Rafinare is member of KazMunayGas International, formerly Rompetrol Group, with operations in 12 countries, yet most of its assets and operations are in France, Spain, South-Eastern Europe and Romania.