Posted at 6/30/23, 12:00 PM Press releases

Rompetrol publishes its 2022 Sustainability Report

Rompetrol publishes its 2022 Sustainability Report, marking a decade of transparent reporting in accordance with the GRI international standards. The report details the company’s efforts to advance environmental, social, and corporate governance (ESG) journey and bears the assurance of an auditing firm.

“We're committed to doing our business responsibly and transparently while providing safe, reliable and sustainable energy to our customers in the Black Sea region. Rompetrol is a pillar of economic stability and energy security in the region, contributing to the export balance of Romania, being a significant contributor to the state budget and a large employer. Our ESG aspects lay at the foundation of our business and, year by year, we continued to decrease our emissions, energy and water consumption. We remain steadfast in our dedication to the social aspects, with care for our employees, communities and stakeholders at large” - Ilyas Kuldzhanov, Chief Executive Officer of KMG International NV.

The 2022 Sustainability Report offers a detailed analysis of the Group’s ESG performance, as well as a deep dive into several companies relevant for the entire value chain and falling within the scope of the sustainability reporting directive, including the listed companies Rompetrol Rafinare, Rompetrol Well Services, but also other entities from Romania, Bulgaria, Georgia and the Republic of Moldova.

The report illustrates the Group dedication to sustainable practices such as energy efficiency, emissions targets, and waste management, coupled with a strong focus on safety, ethical conduct, diversity, talent management, and community involvement as central elements of KMG International sustainability strategy.

In the reporting year, the Group approved at Board level its decarbonization strategy which aims at a gradual diversification of the business, including second generation biofuels (bioethanol and biodiesel), renewable electricity production with approx. 200 MW installed capacity, expanding EV charging network, with the net objective of becoming an energy supplier by 2035-2040.

Besides the decarbonization package, a major investment of 2022 was the cogeneration plant on Petromidia platform, which is expected to be fully operational by the end of 2023, a project that complies with the highest technological standards of energy efficiency and environmental protection.

Highlights from Rompetrol 2022 Sustainability Report include:

  • The total workforce averaged 5,335 employees, with a 2% increase in the percentage of female employees, reach­ing an overall representation of 30% at the Group level. 63.51% of the employees were located in Romania.
  • The Group recorded no fatalities and no occupational illnesses and maintained a low Lost Time Injury Rate (LTIR) of 0.26 for the year, under the IOGP industry reference.
  • Rompetrol Rafinare, operating the 2 refineries of the Group and representing 44,6% of the local refining capacity, continued to play a significant role for the energy security of the region, with a quantity of 5.15 million tons of raw materials purchased and 4.93 million tons of products sold by Petromidia refinery across its sales divisions. Rompetrol Rafinare alone contributed with USD 1.56 billion to Romania's fiscal budget in 2022.
  • The total level of taxes paid by the Group raised to 1.99 billion USD.
  • 92% waste recovery rate on Petromidia platform, a rate constantly above 90% in the past 5 years.
  • The Group discloses its emissions level for all Scopes, including process emissions, transportation and fuels sold, calculations released for Romania and Near-Abroad countries.
  • In the period 2021-2022, Rompetrol made significant contributions exceeding USD 2.5 million to local communities via financial support, fuel donations, and fundraising events. Over half of these contributions were designated for the communities of Constanţa and Prahova, the central locations of the Group’s main operations in Romania.

Rompetrol's 2022 sustainability report can be found on the Group's website at: https://www.rompetrol.com/group-reports.

The 2022 Sustainability Report references the Global Reporting Initiative (GRI) Standards, and also other reporting frameworks such as the IPIECA voluntary guidance for the oil and gas industry, Task Force on Climate-related Financial Disclosures (TCFD), the Sustainability Accounting Standards Board (SASB) Standards, and the United Nations Sustainable Development Goals (UN SDGs).