Rompetrol Group finished upgrading its Petromidia refinery in the town of Năvodari,
The six-year upgrade increased the refinery’s processing capacity from 3.5m tons to 5m tons per year. It also now processes fuel that meets the Euro 5 EU pollution standard.
The extensive project, which involved more than 280 companies and 3,500 people, cost more than $380m, according to Mediafax.
Rompetrol Rafinare, part of Rompetrol Group, reported a $1.1bn turnover in the first quarter of this year, a 2-percent increase compared with the first quarter of 2011. The company ended the first quarter with a net loss of $62.7m, 5.5 times higher than in the first quarter of 2011. During the first three months of 2011, Rompetrol Rafinare posted a loss of $11.3m.
The Petromidia refinery is the largest Romanian oil refinery and one of the largest in Eastern Europe.
