Rompetrol Rafinare expects losses to continue to decline
Rompetrol Rafinare (RRC), part of the Rompetrol Group, is estimating for this year a gross turnover of 5.36 billion USD, 9.6 percent higher than the level in 2013 of 4.89 billion USD. The losses are expected to go down by 35.4 percent. The company is anticipating the losses would amount to 63.92 million USD against 98.97 million USD last year. The company had cut losses last year by 40 percent from 163.03 million USD in 2012. Rompetrol Rafinare has budgeted investments in 2014 of 35.81 million USD, 35.1 percent lower than the ones last year of 55.2 million USD.
Rompetrol Group, registered in the Netherlands, is controlled by the Kazakh state company KazMunayGas. The group has changed its name in March to KMG International NV.