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 S1 2023

Rompetrol Rafinare, member company of the KMG International Group, recorded, in the first semester of this year, good operational results, against the background of a higher degree of utilization of the Petromidia and Vega refineries, compared to the same period last year.

Compared to the first 6 months of the year, Petromidia recorded an increase of 19% in gasoline production - 717 thousand tons and 12% in diesel production - 1.33 million tons. Out of the total volume, 64% of the production was intended for the domestic market, a level similar to the January-June 2022 period.

In the first half of the year, Rompetrol Rafinare made exports worth 679 million dollars, and total quantities increased by 28%, from 743 thousand tons of petroleum products in S1 2022, to 955 thousand tons in S1 2023.

Rompetrol Rafinare continued to be an important contributor to Romania's state budget, with a contribution of 539 million USD in the second quarter of the year.

Read more about the financial and operational results in S1 2023

Results 2022

Rompetrol Rafinare recorded in 2022 an improvement in financial indicators, as a result of higher European refining margins compared to 2021, supported by an increased production level.

The gross turnover achieved by Rompetrol Rafinare, in 2022, was more than 6.5 billion dollars, increasing by 42%, the operational profit (EBITDA) was about 464 million dollars, and the net result recorded a positive value of 90.3 million dollars.

In 2022, Rompetrol Rafinare made exports of more than 1.7 billion dollars. The total quantities exported by the Petromidia, Vega refineries and the Petrochemical Division of Rompetrol Rafinare amounted to approximately 1.8 million of tons.

Rompetrol Rafinare remained an important contributor to Romania's state budget, paying over 425 million USD in the 4th quarter of 2022, respectively 1.56 billion USD throughout the previous year.

Read more about the financial and operational results in 2022