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May 26, 2020

Conpet ends H1 in over 35 million lei profit, up 13.4pct

Conpet, the operator of the national crude&derivatives transport system ended the first half-year in 35.077 million lei net profit, up 13.4 percent from the first six months of 2014, according to financial information sent the Bucharest Stock Exchange on Tuesday.

The company’s turnover increased 1.2 percent to 188.476 million lei as compared to last Jan.-June and it was by 2.2 percent higher than the budget provisions, as a result of the 2.3 percent higher revenues from transport as compared to the budget of revenues and expenditure and by 1.9 percent higher than by the last mid-year.

Conpet reported revenues totalling 206.546 million lei and expenditure of 164.863 million lei in this H1.

Operating expenditure dropped 1.2 percent over Jan.-June to 164.862 million lei, while operating revenues jumped 1.9 percent.

When compared to the provisions set in the 2015 budget of revenues and expenditure, the revenues were up 2.5 percent and expenditure lower by 4.7 percent.

The core activity of CONPET S.A. is the transport of crude oil, rich gas, ethane and condensate through pipelines and by railway tanks, in view of supplying the refineries from Romania and the Balkan area with domestic, imported crude oil and derivatives thereof.

The company operates a 3,800 km-long pipeline network, covering 24 Romanian counties. The transport operations are being controlled from the Central Dispatch, located in the main headquarters of the company in Ploiesti, as well as from local and regional dispatches.

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