Steaua Romana refinery sees 10 times higher profit

Steaua Romana refinery in Campina posted a net profit worth 4.67 million RON (1.29 million euros) in the first half of the year, over 10 times higher than the profit derived in the similar period of 2007, after it witnessed a 41.3% increase in revenues, to 240 million RON, sparked by the high prices of finished products. Revenues went up from around 140 million RON to over 240 million RON, following an increase in the selling price of finished products, while expenses went up 38% and reached 235 million RON, due to the high acquisition costs of raw materials, because of the impact of international quotes. Steaua Romana refinery, which is listed on the Rasdaq market, posted a 233 million-RON turnover in the first six months of the year, 64% higher than in the first half of 2007. In the first six months, the refinery processed 109.014 tonnes of crude oil, close to the amount processed in January-June of last year. The refinery’s majority stake was taken over in 1997 from the Romanian state by Omnimpex Chemicals. Steaua Romana refinery has a 4.