Refining and petrochemicals represent one of the main business units of KMG International, keeping the local industry at high standards. It owns two out of four refineries in Romania, the excellence centers Petromidia refinery (Navodari city) and Vega refinery (Ploiesti city) as well as the Petrochemicals division, the sole producer of polymers in Romania.
Petromidia processes mostly Urals type of crude oil, producing exclusively Euro 5 fuels and other very valuable niche products distributed by the Trading and Supply Chain to the Group subsidiaries and other traditional partners.
More than 1.4 billion USD were invested to develop the refining and petrochemicals units starting 2007, along with logistics infrastructure for crude oil supply and delivery of finished products in Romania and the Black Sea region.
These initiatives of assets modernization were undertaken and carried out in a local and international context marked by the financial crisis, the oil and gas sector being among the most affected.
Contribution to energy security
Petromidia and Vega refineries make up 44,6% of the local processing capacity and could fulfill 70% of the current internal demand for diesel and gasoline, since Petromidia has the highest yield of white products in the region (gasoline, diesel and jet fuel).
The diversity of supply sources represents a key element of energy security and the Group’s offshore marine terminal has a significant contribution to ensuring alternative supply routes with raw materials.
On top of direct access to crude oil supplies from Kazakhstan, Petromidia has the second largest reserve of oil and crude products in the regulated emergency stockpile.
Rompetrol Refinery is the third largest contributor to the Romanian budget, with an annual contribution of nearly USD 1.2 billion to the local budget.
By continually investing in its two refineries, KMG International maintains its position as the biggest exporter of oil products and one of the biggest exporters from Romania.
We have managed to significantly improve our performance over the past years through constant and consistent investments aimed at increasing our refining capacity and operational results.
As a result of the complex modernization program of the Petromidia refinery and the increase of the processing capacity to more than 5 million tons/year ended in 2012, the Group registered a series of operational and financial records.
For 2018, Rompetrol Rafinare plans to reach a gross turnover of USD 3.78 billion, an operational result (EBITDA) of approximately USD 146 million and a net profit of USD 35.2 million. Also, this year, the company intends to make investments of approximately USD 57 million (78% in the Petromidia Navodari refinery, 10% in the Vega Ploiesti refinery and 12% within the petrochemical division from the Midia platform).
Read the T1 results press release.
Read the S1 results press release.
Read the 9 months & T3 results press release.