A pillar of the Romanian energy sector, Vega Refinery proves that, even after 120 years of uninterrupted operation, it is not only a symbol of Romanian industry but also living proof of the power to withstand time, adapt, innovate, and remain unique.
Throughout its 120 years, this small refinery (the smallest processing unit among the four still operating in Romania) yet critical for the country’s industry and economy, has attracted generations of professionals who have dedicated skill, passion, and commitment to keeping it a benchmark of excellence.
Romanian industries such as agriculture, transportation, petrochemicals, pharmaceuticals, and food production are supported by niche products for which Vega is the sole producer in Romania, including bitumen, hexane, naphtha gasoline, and heating fuels. Moreover, the refinery is one of the largest producers of hexane in Europe, supplying its products worldwide.
And it demonstrates its support for the national economy year after year. Thus, in the first nine months of 2025, Vega processed 281,000 tons of raw materials, up 39% compared to the same period last year, according to company data. Subsequently, it results that product yields were increased, driven directly by higher component volumes received from Petromidia Refinery, which benefited from a steady flow of Kazakh crude oil (KEBCO and CPC), supplied with the support of KazMunayGas—the national oil and gas company of Kazakhstan—as well as Vega’s continuous high-capacity operations and strong market demand.
Impact in Romania, Europe, even Asia, in different sectors
The bitumen produced at Vega and sold exclusively on the Romanian market covers up to 20% of national demand. The rest of the raw material, of much lower quality, is imported from countries such as Greece, Turkey, Italy, or Austria, amid continuously rising demand in Romania. At the same time, 65% of Romania’s bituminous membrane production depends on Vega’s bitumen.
Regarding hexane production, Vega supports industries such as food (oil extraction), pharmaceuticals, and petrochemicals. Its products supply all oil factories in Romania and are exported worldwide to countries such as Turkey, India, Ukraine, Bulgaria, and Poland. Globally, hexane production is concentrated in major refineries in the United States, Europe, and Asia, where demand is closely tied to the development of the food and construction industries. In recent years, the hexane market has seen steady growth, driven by the need for efficient and sustainable industrial solutions.
For 2025, the company estimates sales will reach nearly 100,000 tons, with average annual hexane production of around 80,000 tons, thereby consolidating Romania’s position as a strategic supplier in this industry, currently accounting for about 4% of global demand.
Returning to the company’s results for the first nine months of 2025, the consolidated gross turnover of the refining segment reached approximately USD 3.8 billion, the operational profit (EBITDA) was about USD 150 million, while net result was negative at around USD 7 million, according to the Bucharest Stock Exchange report, which shows a substantial improvement in net performance.
According to the same document, results were supported by higher volumes of raw materials processed, increased sales, and improved net refining margins.
Critical Moments
Today we speak of Vega as a vital pillar of the economy, but we might have spoken of it in the past tense if Rompetrol had not made a strategic acquisition in 1999, and if KazMunayGas had not developed and modernized its capacities starting in 2007.
After the 1989 Revolution, Vega went through a difficult period of economic transition, marked by Romania’s social and economic changes. In the 1990s, many similar industrial units were closed or downsized, but Vega survived thanks to its dedicated employees who fought for it.
Employees recall 1997 as a black year: “We all protested, as never before, to prevent Vega’s closure, and eventually the authorities were convinced to restart the installations. It was a very hard time, because after receiving approval, some employees were called—without pay—to participate in the necessary work to safely restart the technological installations. We worked for almost three months, without money without guarantees. The desire to restart and the hope of resuming work drove many to volunteer. Vega has been, and still is, the soul and home of many people who have spent their lives here, over its 120 years of existence,” they recount.
Even after restarting, Vega faced tough times until its takeover by Rompetrol, which was the group’s first acquisition. The takeover meant significant investments in modernization and new technologies. This stage allowed Vega to focus on high value-added products, abandoning in 2004 direct competition with large refineries on standard fuels.
In 2007, with Rompetrol’s acquisition by KazMunayGas, a period of continuous development and modernization followed. Today, Vega is not only Romania’s longest-running refinery but also a symbol of the Romanian industry’s ability to reinvent itself and remain relevant in a constantly changing global context.
