Agip ends 2008 in step with market: turnover up, profit down

Agip Romania, the local branch of Italian petroleum giant Eni, ended last year with 326.97 million RON (88.85 million euros) in turnover, up 16.6% against 2007, when the company reported a 280.28 million-RON (84 million-euro) turnover. As for the company’s net profit, it fell from the 6.86 million RON (2.05 million euros) recorded in 2007, to 3.23 million RON (0.87 million euros). This matches the trend recorded on the petroleum market last year, with all large players recording a decline in earnings, but a rise in turnovers. Last year saw the oil barrel set record after record, first climbing as high as around 150 dollars, and then plummeting towards the end of the year, when the oil price on international markets neared 30 dollars. Agip Romania controls a 37-petrol station network on the Romanian market, accounting for a 2.5% market share.