Subscribe  Log in | Register | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Licensing rounds
Search
Related Articles
US politicians up windfall tax rhetoric ante
Surging downstream profits add fuel to the fire, but the spectre of demand destruction lurks
China’s energy demand faces headwinds
Economic difficulties mean the outlook for H2 remains highly uncertain despite planned stimulus measures
Biden clashes with US refiners over fuel prices
Attacks on the downstream fail to weigh capacity losses
Letter from Beijing: Refiners hoping for summer rebound
Easing of Covid restrictions looks set to lead to surge in domestic travel
Petrobras puts three refineries back on sale
The RNEST, Repar and Refap facilities are open for offers again, but the divestment programme’s future is in doubt
Chinese refiners face carbon trading risk
Beijing’s net-zero commitment means the refining and petrochemicals sector is likely to be included in the country’s ETS scheme sooner rather than later
Europe yet to give up Russian diesel
The continent is loath to tackle its dependence upon imports of Russian refined products
Dangote on track for Q4 commissioning
Previous updates on Africa’s largest refinery had been no more specific than sometime in 2022
Angolan refining poised for expansion
Work is set to begin on a new greenfield refinery in the north of the country, with other developments also seeing progress
Shell’s refining margins jump above $10/bl
The major’s downstream economics are almost 300pc improved year-on-year
A Petrom fuel tank at the Petrobrazi refinery
Romania Refining OMV
Peter Ramsay
Editor-in-chief
8 February 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Petrom refining hit by utility costs hike

Romanian refiner posts improved economics, but ancillary costs drag

OMV Petrom, operator of Romania’s 4.4mn t/yr (88,400bl/d) Petrobrazi refinery, saw the operating result for its downstream oil business double year-on-year in the final quarter of 2021, on the back of a more favourable refining margins environment and strong demand. But, like several European refiners, the increasing price for gas and power used in its refinery, as well as the rising cost of carbon, weighed on its performance. The firm’s downstream unit made RON550mn ($126.5mn) in Q4, up by 100pc from the same quarter last year. For 2021 as whole, the unit’s operating profit was RON2bn compared with RON1.45bn in 2020. Petrobrazi’s utilisation rate has been above 90c for the past three quarte

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in
Subscribe now
to get full access
Register now
for a free trial
Any questions?
Contact us

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Little love lost as Serica and Kistos walk away
10 August 2022
Neither firm will pursue their offer for the other, but they may look elsewhere
Suncor in no rush on UKCS sale
9 August 2022
The Canadian producer’s exit from Norway may not be closely followed by divestment across the maritime border
Pemex reverses production decline
9 August 2022
Mexico’s leading energy provider enjoyed a strong quarter but will have to overcome hurdles to achieve its upstream objectives
Siemens sees no slackening in European gas-to-power
9 August 2022
Gas-to-oil conversions are nonetheless presenting the turbine maker with opportunities

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
  • Twitter
Tweets by Petroleum Economist
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2022 The Petroleum Economist Ltd
Cookie Settings
;

Search