Rompetrol Rafinare recorded a net loss of 34.1 million dollars in the first six months, compared to a profit of 58.4 million dollars in the same period last year. At the same time, gross revenues decreased by 9% to 2.7 billion dollars, as international quotations for crude oil and refined products were marked by volatility.
Petrol quotations decreased by an annual 22% in the January-June period while diesel quotations dropped by 26%. While the company reached higher levels of production and sales of petroleum products in the first half of 2023 compared to the same period of last year, these were not enough to offset the reduced refining margins caused by international market quotations.
The company’s consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 33% year-on-year to 116.9 million dollars.
Romepetrol’s Petromidia refinery saw a 16% annual increase in the volume of processed raw materials, which reached 2.681 million tons in the first half of 2023. Its Vega facility recorded a 19% annual increase in the volume of processed raw materials for the first six months of 2023, to 193,000 tons.
The company’s refining segment recorded a net loss of 14.6 million dollars in the January-June period, compared to a net profit of 118.2 million dollars a year earlier.
