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.
Rompetrol Rafinare recorded, in the first nine months of this year, declining financial results due to the influences generated by the new coronavirus, but also due to the unprecedented volatility in the oil market. In the pandemic context, market demand contracted, generating major pressures on gross refining margins which decreased substantially compared to the indicators for similar periods in 2019 - 19.6 USD/t compared to 41.1 USD/t in Q3 2019, respectively 11 USD/t compared to 37.6 USD/t in the first 9 months of 2019. At the level of the global business environment, refining margins felt major pressure at the beginning of the year, reaching minimum levels similar to those of 2008. The total value of exports made between January and September by the Petromidia, Vega refineries and the Petrochemical Division of Rompetrol Rafinare amounted to approximately 468 million dollars. Rompetrol Rafinare continued to be an important contributor to Romania's state budget, paying over 772 million dollars in the first 9 months of 2020.
Read more about the results 9 months 2020.
Rompetrol Rafinare, part of the KMG International Group, managed in 2019 to maintain a positive trend in terms of operational results, with record values for processed raw materials, fuel production and sales on the domestic market.
Read more about the results in 2019.
The largest local refinery, and of the most modern in SE Europe.
The longest standing local refinery; supplier of special and niche products.
The sole producer of polymers in Romania.
We make a contribution to the Romanian industry and energy security.
Financial results affected by the market context in 2020
Meet the executive management of the company
Environment and health
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.
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.