Conpet triples profits

Conpet Ploiesti, a petroleum and petroleum product transport firm, has reported preliminary net profits for last year of 1.8 million euros, up more than 180% on 2003’s figures. Conpet Ploiesti posted a 59.5 million-euro turnover in 2004, an increase of 19.8% on the previous year. The company merged with Petrotrans Ploiesti last year and took over some of the latter’s assets with a view to establishing a single transporter for petroleum and petroleum products transported by pipeline. Last year Conpet took over Petrotrans’ infrastructure and now operates a 6,300 km network of pipelines. The improved results were due to increases in amounts transported compared with schedules, which was particularly the case for imported petroleum. The ratio of amounts originating from the domestic market to those imported is almost 1 to 1, with imports slightly in the lead. Revenues per tonne of domestic petroleum transported were twice the level for imported petroleum, though transport on the domestic market was more expensive. ZF