Rompetrol Rafinare achieved, in Q1 2026, a gross consolidated turnover of over USD 1.4 billion, representing an increase of 8 percent compared to the corresponding period of the previous year.
From a profitability perspective, the Group delivered a solid improvement in operating results compared to the same period last year, with EBITDA increasing by 21 percent and the net result approaching breakeven.
During the reporting period, the Group temporarily suspended operational activity at the Petromidia Năvodari and Vega Ploiești refineries to carry out a planned technological turnaround, which took place at the beginning of March over a period of approximately three weeks.
The turnaround program included over 700 specific maintenance works, as well as catalyst replacement in six main processing units. In addition, comprehensive checks were performed on approximately 900 pieces of equipment (static, dynamic and electrical), alongside inspection and testing of nearly 1,200 pipelines.
A key milestone achieved during this period was the recertification and extension of operating authorizations from the relevant authorities, including ISCIR and CNCIR, ensuring continued compliance with regulatory and safety requirements.
The works were successfully executed with the involvement of over 2,500 personnel, including internal specialists, the general contractor Rominserv, and approximately 45 partner companies, all contributing with extensive technical expertise.
Petromidia refinery, one of the most modern facilities in the Black Sea region, accounts for approximately 40 percent of Romania’s total refining capacity. Located in Năvodari, the refinery benefits from a stable and reliable crude supply, primarily ensured through Kazakh deliveries supported by KazMunayGas.
Gross revenues of the refining segment reached approximately USD 1.2 billion in Q1 2026, marking an 8 percent increase year-on-year, supported by favourable market conditions. In Q1 2026, Petromidia processed a total of 1.19 million tons, representing an 11 percent decrease compared to the same period of last year (1.34 million tons), mainly due to a planned shutdown of approximately three weeks in March for technological activities, ISCIR authorization and mechanical works. Despite this, the refinery achieved a record average throughput of 17.46 ktons per operational day, supported by stable crude availability (68.9 percent sour crude and 31.1 percent sweet crude mix), imported Diesel and Jet blending components, and continuous operation of the main processing units. On this basis, capacity utilization remained close to maximum levels, increasing by 7.8 percent compared to Q1 2025, reflecting strong operational performance during effective running periods, as well as a supportive market environment.
With respect to Vega refinery—the only domestic producer of bitumen and hexane—total throughput amounted to 63,778 tons in Q1 2026, representing a 15 percent decrease compared to Q1 2025 (75,108 tons), primarily due to a scheduled maintenance shutdown during the period.
Accordingly, capacity utilization at Vega decreased by 13.73 percent year-on-year, reflecting the impact of temporary shutdowns required for planned maintenance works. Despite this, Vega delivered solid operational performance, highlighted by the following indicators:
- Technological loss of 0.69 percent;
- Energy consumption of 3.25 GJ/t;
- Bitumen production reaching a record level for a first quarter, increasing by 38.6 percent year-on-year, in line with strong market demand. These results underline the refinery’s ability to maintain high operational efficiency and adapt production to evolving market dynamics, particularly in the case of bitumen, a strategic product within Vega’s portfolio.
At the same time, Rompetrol Rafinare continued to be a significant contributor to Romania’s state budget, with total contributions amounting to approximately USD 577 million in Q1 2026.