Rompetrol Rafinare takes one step further into improving performance

Rompetrol Rafinare and US Company HSB Solomon Associates LLC (Solomon) are going to initiate this month the third stage of their “Net Cash Margin Measurement, Management, and Maximization (NCM³™) project.

In line with the consultancy agreement concluded in November 2006, the project shall undergo 4 stages: performance assessment, action plan development, implementation assistance, and support to the improvement of results arising from said partnership.

The total project refinery capital investment for this stage is USD 10 million, spread over an 18-month duration.

The third stage is aimed at boosting efficiency in several areas: energy, optimization and planning, hydrocarbons loses, product quality, organization efficiency, maintenance and safety, management practices for processing units, and advanced process control. The above can boost net margin thanks to the implementation of the 250 recommendations identified by refinery and US experts throughout the first two stages.
“Right now, we can say that the project is moving on from theory to practice. According to our studies, we estimate an improvement of the current net USD 100 million margin over 2007-2011. We benefit from the advice of our Solomon partners, and hope to achieve operational excellence upon minimal investments. Thus, we are now closer to the already stated goal of being among top 25 European refineries,” stated Cosmin Turcu, CEO Rompetrol Rafinare.
The last stage of the consultancy agreement will aim at validating benefits and re-auditing work practices acquired throughout the partnership concluded with Solomon Associates. 

Rompetrol Rafinare posted in Q1, 2007 a significant rise in consolidated turnover, up to USD 664 million, marking a 32% rise vs. the similar 2006 duration. The refinery, which ranks amongst the top performers and modern in the Black Sea and Central and Eastern Europe region, markets a wide range of products complying with EU quality and environmental standards. Besides Romania, output is marketed in Bulgaria, Turkey, Georgia, Moldova, Hungary, Croatia, Bosnia, Albania and Western Europe.

HSB Solomon Associates LLC (Solomon) is a member of American International Group, Inc. (AIG) and has been providing services to the global refining and petrochemicals industry for more than 25 years. Solomon is currently carrying out benchmarking operations for 80% of the world’s refining capacities and for 70% of the petrochemicals production (ethylene). Headquartered in Dallas, Texas, Solomon has offices in London, Beijing and Singapore, and representatives in New York, Paris, Moscow, Ecuador, Tokyo, and South Korea.