About Rompetrol Rafinare
Rompetrol Rafinare is the largest asset held by the KMG International Group in Romania. The company operates the two refineries of the Group - Petromidia of Navodari, county of Constanta, together with the only petrochemical division of the country, and Vega Refinery of Ploiesti, which keeps the local refining industry at high standards.
The strategy employed by the Group included investments of more than USD 1.4 billion in development of the refining and petrochemical business lines, as well of the infrastructure supporting crude oil sourcing and delivery of finished products across Romania and the Black Sea region.
These retrofitting programmes were undertaken and carried out starting with 2008, in a local and international context marked by the financial crisis, with the oil and gas industry being among the most affected.
Results 9 months 2024
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, recorded in the first 9 months of 2024 a gross turnover of 3.57 billion dollars and an operational result (EBITDA) of about 125 million dollars, an indicator that measures the company's profitability before deducting depreciation, interest, fees and taxes.
The financial results were influenced by the planned shutdown of the Petromidia refinery, between March and May 2024, but also by other factors, independent of its activity - the volatility of quotations for raw materials (crude oil, biocomponent) and petroleum products, respectively the evolution of refining margins, recorded at international level.
The company reconfirms its commitment to support stability in the energy sector, almost 70% of the total fuels obtained between January and September 2024 being directed to the domestic market.
Rompetrol Rafinare is one of the largest contributors to the state budget, 456 million dollars in Q3 2024, respectively 1.12 billion dollars paid in the first 9 months of 2024. Of the total, 30.3 million dollars represents the solidarity contribution for 2023, and 6.1 million dollars represents the turnover tax, related to the first half of 2024.
Read more about the financial and operational results in 9 months 2024
Results 2023
Rompetrol Rafinare, a member company of the KMG International Group, recorded, in 2023, a decrease in financial indicators, on the background of the volatility of international quotations for crude oil and refined products.
The gross turnover was 5.3 billion dollars, in 2023, a 19% decrease compared to the previous year, the operating profit (EBITDA) was 201 million dollars, and the net result was a negative one of 270.5 million dollars.
In 2023, the total quantities exported by the Petromidia, Vega refineries and the Petrochemical Division of Rompetrol Rafinare amounted to 1.64 million tons, while, for the last 5 years (including 2023), the total level was 7,3 million tons.
Rompetrol Rafinare continued to be an important contributor to Romania's state budget, paying over 1.65 billion dollars throughout the previous year.
Read more about the financial and operational results in 2023
PETROMIDIA
REFINERY
The largest local refinery, and of the most modern in SE Europe.
VEGA
REFINERY
The longest standing local refinery; supplier of special and niche products.
PETROCHEMICAL
DIVISION
The sole producer of polymers in Romania.
ECONOMIC IMPACT
We make a contribution to the Romanian industry and energy security.
Press
Releases
15 November 2024
The market context and the general turnaround, major impact on the 9-month results of Rompetrol Rafinare
Rompetrol
Team
Meet the executive management of the company
Environment and health
WE PROTECT
TO CREATE
Rompetrol Rafinare assumes in full its important role in protecting and keeping safe the environment. We bring our constant contribution to mitigation of the environmental impact and of any effects of our operations.
Having reviewed the progresses we achieved in reduction of waste and energy consumption, and in compliance with all environmental regulations, we commit to protect the communities around our operations in the long run. As to employees, our objective is 100% SAFETY, through training programmes, thorough checks and extension of our protocols also to contractors.
Certifications
ROMPETROL
REFINERIES
Rompetrol Refineries are aligned to the BAT (Best Available Technologies) standards, and Petromidia is the first Romanian refinery to have successfully aligned to European environmental regulations and fuel quality standards.