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 1st quarter 2022
Rompetrol Rafinare had a gross turnover of 1.17 billion dollars, up 16% from the same period last year. The increase was determined by the quotations for oil products higher than those of the first three months of 2021.
Despite the current market conditions, with dysfunctions in the supply of raw materials at regional level, the effect of unfavorable weather conditions in the Black Sea, as well as the technological shutdown of the Petromidia refinery, Rompetrol Rafinare honored, in the first quarter of the year, its previously agreed contractual obligations and continued uninterrupted deliveries of petroleum products, from its own stocks or with the support of the trading division of the KMG International Group.
Of the total production obtained in the first three months of 2022, 66% was destined for the domestic market, an increase compared to last year's share. The rest of the total oil products were exported to regional markets, where the company, through its efforts in the operational segment, supported the subsidiaries of KMG International Group, Rompetrol being the largest supplier of oil products in the Republic of Moldova and Georgia, but also with a presence significant market in Bulgaria.
Rompetrol Rafinare continued to be a major contributor to Romania's state budget, paying nearly 350 million dollars in the first quarter of 2022.
Rompetrol Rafinare, a member company of the KMG International Group, managed to improve its financial indicators in 2021, amid a sales volume similar to the previous year, but also as a result of higher market quotations compared to similar periods from 2020.
However, the company's consolidated results were impacted by the shutdown of operational processes, caused by the technical incident that occurred on July 2, in the Diesel Hydrotreating Unit (HPM), an event that also affected other facilities in the Petromidia refinery.
In order to restart production activities, for over 80 days, extensive remediation works were carried out on the affected assets. The teams of Rompetrol Rafinare specialists, together with those from Rominserv and with the support of several companies with expertise, managed, in the 3rd quarter of 2021, to lead to the restart of the operational processes, and in the second half of October 2021, the facilities reached optimum operational efficiencies.
Rompetrol Rafinare continued to be a major contributor to Romania's state budget 1.63 billion dollars in 2021.
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.
Rompetrol publishes its 2021 Sustainability Report
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.