Rompetrol Rafinare, the national company of KazMunayGas, has increased its gross domestic product from 44% to 4.1 bln. The dollar grew. This development has largely influenced the growth of international oil prices.
At the same time, the Company's operating results are EBITDA of $ 158.5 million. US dollars, which is 4% from January to September 2017, due to the increase in processed raw materials and sales. Two refineries – Petromidia Navodari and Vega Ploiesti The volume of processed raw materials increased by 19% in the first 9 months and increased by 4.73 million tonnes and 314 thousand tonnes respectively.
Written by clear result Rompetrol Rafinare in the first three quarters of the year, having decreased by 41.3% as a result of the deviation of the exchange rate and other incidents, which has a repetitive nature of about 33.3 mln. The added volatility of crude oil and crude oil prices was 39% higher than in the first 9 months, and crude oil for 28% 5% and diesel fuel for Euro 5 for 35%.
European oil refining margins decreased by 13.1% in 2017 compared to January-September and stabilized at an average of $ 48.2 million. The average price of crude oil for the last four years is $ 72.6 per barrel, or $ 83.6 per barrel until September 28, 2018.
The company continued to optimize processing costs and operational costs this year, and Petromidia refinery improved its overall refinery margin by 5%.
Rompetrol Rafinare is Romania's largest exporter of trolley buses, oil products exported to affiliated companies and exported by petrochemicals KMG International, Bulgaria, Moldova and Georgia and in the Black Sea region to $ 1.42 billion in the first nine months of the year. (66% higher than the same period last year).
The company made a significant contribution to the state budget of Romania, amounting to more than 1.2 billion tenge in January-September. In the third quarter of 2018, there were more than $ 441 million.
Main shareholders of Rompetrol Rafinare SA are the state through KMG International (54.63% – direct and indirect) and Romania's Energy Ministry (44.69%).
In the first nine months of the year the total turnover of the company amounted to $ 3.56 billion, which is approximately 51% more than in the same period of 2017.
At the same time, the EBITDA's operating results increased by 22% to $ 135.7 million compared to January-September 2017. Up to USD. The company has doubled net profit of $ 24.8 million in the first nine months of 2017 and reached about $ 47.7 million.
The financial results are up to $ 51.3 per barrel of the Black Sea coast processing and 19% (4.73 million tonnes) of processing raw materials and fuel (gasoline, diesel, jet fuel, 3.71 million tonnes).
At present the production units are focused on planned revisions, which will allow them to maintain their optimal production capabilities and create the bases for future investments.
In addition, they will provide Petromidia Oil Refinery's continuous operation by 2020, with their total revision being scheduled every four years. Estimated work amounted to 21.5 mln. Approximately $ 4.5 million for its additional operations.
In the first nine months of the year Ploiesti has processed 314 thousand tons of raw materials, up to 19% from the same period of 2017. Currently, the plant is the longest and the only one in Romania. domestic bitumen and hexane producer.
The processing capacity increased by 19% for Petromidia plant (99.2%) and for the Vega refinery – by 20.3% (126.8%).
In the first half of the year the Petrochemical department registered $ 165 million of commodity turnover, up 23% from the level registered in the same period of 2017. Currently, Romania is the only producer of polypropylene and polyethylene.
The lowest margin situation in the last seven years and the high level of imported raw material costs (ethylene for polyethylene installations) in January-September showed negative results. EBITDA and net profit of $ 12.8 million, respectively. And US $ 27.4 million.
In these cases, the company made a decision to keep the HDPE polyethylene plant in standby mode after the first half-year of successful completion of inspection and testing (equipment testing, approval, technological samples, etc.).
Rompetrol Rafinare has increased its propylene and 11% ethylene up to 21% in the first nine months of the year compared to the volume achieved in the same period of 2017 by its petrochemical department. Petromidia raw material for polypropylene plant, imported from low-density polyethylene plant (ethylene).
Sales of polymers in January-September increased by 15% to 156 thousand tons.
The distribution segment increased by 33% in the total trade turnover in January-September 2017, with an increase in international quotations and an increase in oil prices on the domestic market as well as with the increase in sales.
Fuel prices at the international level in the first nine months of the year were around 28% for Euro 5 (683 US dollars / ton) and 5 euro for diesel fuel (638 US dollars / ton) compared to the same period fixed in the third quarter Fuel price increase for 2017 significantly improved for the third quarter, 31% for gasoline and 37.6% for diesel fuel.
At the same time, the decrease in leverage against the US dollar by 2.4% (in the third quarter of 2017 in the third quarter of 2018) is 25.5% for petrol and 29% for petrol, and 3% for gasoline. It was also an excise tax on gasoline, which is 15% higher than petrol and 16% higher than in 2017.
Production did not have a significant impact on domestic fuel prices, and increased by T3 2017 in the third quarter of the year, while diesel fuel prices rose 25.7% and gasoline prices rose 21.7%.
Thus, the financial performance of the segment in the first eight months of the EBITDA was 37.3 million US dollars. This is 21% less than in the same period last year and amounted to 16.8 mln. US $ net – 59%.
Rompetrol Downstream commercial petrol (gasoline, diesel, liquefied gas) in January-September amounted to 1.69 million tons. In the first nine months of the current year it increased by 1.82 million tonnes. He reached the tone.
In the retail segment, the company registered a 2% increase in sales volumes, which was followed by the evolution of the Rompetrol fleet with its rebranding program and auto LPG distribution points, continuation of optimization programs and reducing operating costs, as well as 4 new stations.
In the wholesale segment, since the beginning of the year it has 9 and 20 cubic meters of 85 new subbanks, and the total volume sold in this channel in the first nine months of the current year was 17% as compared to last year.
At the end of September 2018, the distribution segment of the Rompetrol Downstream segment grew by 102 units compared to September 2017 and generated 895 retail outlets (own stations, partner stations, operational stations, internal busses).
Image source and text: Rompetrol Rafinare