Romania’s Rompetrol Petrochemicals reports Q1 net loss of $2.31m

14 May 2013 13:11  [Source: ICIS news]

BUCHAREST (ICIS)--Rompetrol’s petrochemicals business reported a net loss of $2.31m for the first three months of 2013, compared with a net loss of $4.01m in the same period last year, the company said on Tuesday.

Rompetrol Petrochemicals’ turnover decreased by 20% year on year to $57m (€44m).

The company said that compared with 2012 its financial results have been positively influenced by good margins for petrochemical products. On the other hand, due to a scheduled five weeks of suspended production in March and April this year, its processed amount of raw materials was 41% lower than in Q1 2012.

In the first three months of 2013, Rompetrol Petrochemicals processed 58% less ethylene year on year. It processed 33% less propylene compared with the corresponding period last year, the company said.

Rompetrol Petrochemical’s plants include a 100,000 tonne/year high density polyethylene (HDPE) installation and a 60,000 tonne/year low density polyethylene (LDPE) unit.

Rompetrol Petrochemicals is part of oil refiner Rompetrol Group, which is owned by Kazakhstan's KazMunaiGaz (KMG), and operates the Vega and Petromidia refineries.

($1 = €0.77)

By: Marian Chiriac
+44 20 8652 3214

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