Rompetrol posts record turnover growth

Rompetrol Downstream, the fuel distribution arm of Rompetrol group, estimates turnover worth $145 million this year, almost four times higher as compared to last year. Although it started out as a local distributor, the company now holds a national network, set to include 150 gas stations by yearend.
Rompetrol Downstream (RPD) last year logged turnover of 1,137 billion ROL ($39.1m) and net profit worth 33.5bn ROL ($1.1 million). Company officials see turnover in excess of 4,800bn ROL (about $145m) for 2002 and net profit revolving around three million dollars.
The products sold by RPD come from one of the group’s two refineries – Petromidia Navodari. The refinery has a monthly processing capacity of 300,000 tonnes and exports the bulk of its output.
“This was a huge leap forward, propelling us to the position of national distributors, as compared to the several gas stations in the country’s southern area that we started out with,” John Long, general manager of Rompetrol Downstream told Ziarul Financiar.
Next year, at least 50 gas stations will be added to the group led by Dinu Patriciu. RPD runs most of its stations in the franchise system.
“Many gas station owners came to us asking for permission to distribute our products and we work very well together,” says John Long.
With a distribution network comprising at least 200 stations, Rompetrol Downstream ranks second among the oil companies in Romania, after SNP Petrom and ahead of corporations such as Shell, Lukoil, Mol, OMV and Agip.
According to Rompetrol officials, Rompetrol Downstream holds 10% of the fuel distribution market, while the group makes 34% of the Romanian oil products. Petrom holds 40% of the distribution segment, as it runs more than 450 gas stations.
Besides adding new units to its network of gas stations, Rompetrol group is also planning to open wholesale fuel warehouses across the country.