COMPANIES ECONOMY ENERGY

KMG International attains strategic objectives, oil crisis did not affect company’s profit

KMG International, formerly Rompetrol Group, registered last year an EBITDA operating result of USD 162 M and a net profit of USD 4.6 M, according to a company communiqué. In 2014, KMG International registered losses of USD 57.9 M, according to the company’s annual report.

“2015 represents an important moment in the history of KMG International Group. We’ve managed to successfully attain the objectives and strategic directions set in 2013, by carrying out the investment needed to upgrade and expand Black Sea region assets, but also by adopting new business initiatives to boost operating efficiency and lower production costs,” KMG International CEO Zhanat Tussupbekov stated.

Petromidia Navodari refinery, KMG International’s main asset, registered last year a historic high in what concerns the oil processed (15,200 tons per day). Thus, the refinery located on the Black Sea shore processed approximately 4.95 million tons of oil.

The diesel oil output registered by the Petromidia refinery reached a record level of 50 per cent of the yield of white products, while this indicator’s average share in Central and Western European refineries stands at 40 per cent.

In 2015, the Group’s retail segment registered a record volume of fuel sales (gasoline, diesel oil, liquefied petroleum gas) in Romania, Moldova, Bulgaria and Georgia, namely 2.64 million tons.

This evolution was mainly backed by the implementation, started in 2013, of a wide-ranging programme for the rebranding of its fuel distribution stations, part of which a new concept for Rompetrol stations was developed. At the end of 2015, 121 own stations and 39 partner stations were operating under the new concept in Romania, the programme being expanded to Georgia and Moldova too.

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