Rompetrol Rafinare, USD 1.3 billion turnover in Q1 2014
Rompetrol Rafinare, part of KMG International group, has reported the closing of Q1 with a USD 1.3 billion, up 48 percent from USD 884.3 million in the similar interval of 2013, based on increased sales, while losses peaked to USD 26.8 million. The reported losses went up 6.7 percent against USD 25.1 million registered in the same interval last year. “Company’s consolidated financial results have been positively influenced by higher sales vs. Q1 last year and negatively influenced by international quotations for crude oil and oil byproducts,” a company release informs. In the refining field, the company registered a gross turnover of USD 1.21 billion, 56 percent higher than the USD 778.8 million during the same interval last year, being influenced by higher sales of oil products. Fuel sales reached 892,000 tons in Q1, 81 percent higher against during Q1 2013 of 492,000 tons. Fuel sales on domestic market have increased by 42 percent, while the sales on foreign markets have increased 120 percent against Q1 2013, the release further reads. Rompetrol Rafinare reported oil products exports of over USD million. Losses coming from the refining process have surged by 20.3 percent from USD 25.1 million to USD 30.2 million. Rompetrol Rafinare reported for its distribution activities a turnover of USD 645.8 million, up by 28 percent from USD 503.2 million in Q1 2013. The distribution activities have registered USD 1.5 million profit, surging from last year’s Q1 losses of USD 1 million.