Petrol station chains double profits

The large petrol station chains posted record profits last year, with most petroleum companies managing to double their earnings on the segment of fuel retail or, in some cases, move from millions of euros in losses to huge profits. OMV Romania, a company acquired by Petrom in 2006, saw a net profit worth 54.6 million RON (16.3 million euros) last year, up 2.3 times against 23.8 million RON (6.7 million euros) in 2006, and a turnover worth 1.67 billion RON (500 million euros), 10% more than in 2006. MOL Romania, the local branch of the Hungarian group MOL, posted net profit worth over 12 million euros, more than double the 2006 results. Agip Romania made a 2.05 million-euro profit, more than triple the 0.6 million-euro profit in 2006. The most surprising increase was experienced by Rompetrol’s retail division, which ended last year with a net profit worth 8.2 million dollars (6 million euros).