A recent study conducted by Brand Finance (a global independent brand valuation company) ranked Rompetrol in top 10 companies of Romania in terms of brand value. This is a first time for the company held by KazMunayGas, which, in the context of a 44% growth in the past year, managed to become one of the most performing names of the Romanian economy.
According to the report, Rompetrol has an estimated value of EUR 111 million and managed a growth from EUR 77 million, as it recorded last year. An important catalyst of the brand value growth consists in the exceptional operational results recorded in the past year at the level of Petromidia and Vega refineries, the two extremely important assets under the umbrella of Rompetrol Rafinare. The historical records registered by the two refineries translate as the best year for Rompetrol Rafinare, its performance exceeding any expectations.
Petromidia refinery reached 11 historical records in 2018, in chapters such as processed raw materials (5.92 million tons), obtained petroleum products (5.78 million tons), production of gasolines (1.36 million tons) or diesel fuels (2.75 million tons).
At the same time, Vega, the refinery which has been operating from as early as 1905, managed to break 8 historical records, for the processed raw materials, products obtained (bitumen, solvent, hexane) or the level of use of the refining capacity.
Indisputably, the quality of the products obtained by the two refineries contributed to the growth of Rompetrol brand. After the major investments, fuels tending to Euro6 norms are manufactured at Petromidia refinery, the production of Jet fuel significantly increased, which shows that Rompetrol Rafinare is a refiner also targeting to other niches. At the same time, Petromidia holds the only petrochemistry division in Romania, which supplies raw materials for half the plastic materials manufactured in the country.
Also, Vega refinery is the only manufacturer of bitumen and hexane in Romania, with record productions in 2018. The development of these products brings added value to the consumer market in the country. The uniqueness of the two refineries is a strong point on which the Group’s strategy is built (Petromidia is the largest refinery in the country, one of the most important in South-Eastern Europe, and Vega is the longest-lasting unit of this type in Romania).
The company’s rise started after its privatization
Although it was not in the forefront from the beginning, Rompetrol is a brand with a history of over 40 years. The company was established in 1974 in order to represent the oil industry of Romania abroad, a sector with a history and experience of over 160 years. The company provided services in the crude oil extraction area in countries such as Iran, Iraq, Sudan, Libya, Saudi Arabia.
After the fall of the communist regime, the companies faced several difficult moments but, after its privatization in 2001, its rise started due to several inspired movements: purchase of Petromidia refinery - affected by the conditions of the transition economy. After the privatization, the construction of a network of gas stations started, first in Romania, then in the Black Sea area, reaching Western Europe: after Dyneff local network was purchased, the Rompetrol logo appeared in the gas stations in Southern France and Northern Spain.
Afterwards, the Rompetrol business was sold to the national oil company of Kazakhstan, KazMunaiGas, which kept the Rompetrol brand and which, moreover, took it to a new stage of performance.
The exceptional results of the recent years, crowned by the records of 2018, may be ascribed to the major investments made from 2007 (the year of takeover by KazMunayGas) until present: over USD 1.6 billion. The considerable amounts are the guarantee for success. In a period in which numerous refineries of Europe were closed, the Kazakh investor managed to revitalize two extremely important industrial platforms for the Romanian economy.
Rompetrol Rafinare, important contribution to the State budget
The investments of KMGI shall not stop in the near future. By creation of the Kazakh-Romanian Energy Investments Fund, the Group shall allocate in total approximately one billion dollars. The most important project on the table is the construction of a cogeneration installation, which shall assure energy independence to Petromidia platform, and will also help the adjoining communities because it shall provide thermal energy in advantageous conditions to the localities neighboring the largest refinery of Romania.
The contribution of Rompetrol Rafinare to the State budget of Romania is also worth mentioning. In 2018 alone, the company paid taxes and duties to the State totaling over USD 1.5 billion. At the level of the entire country, the activity of KMG International Group generates contracts with over 3,500 external partners each month. Consequently, Rompetrol is one of the main supporters of the horizontal economic growth and contributes to higher standard of living in Dobrogea, Prahova, Bucharest, Sălaj, as well as in the rest of the country, taking into account that its network includes over 926 fuel distribution points, plus the six storage facilities located in all the interest areas in Romania.
Another element which helped it make it to the top 10 is its constant proneness to improving the retail activities at the level of the group. For instance, in 2013, it started a comprehensive rebranding process of Rompetrol stations throughout the country. At present, Rompetrol may be proud of some of the most modern and welcoming fuel stations in Romania which attract more and more clients each year and turns them into loyal clients through the quality of the products and fuels. And this model was taken over in other countries with an important presence of the company: Bulgaria, Moldova, Georgia or even Western Europe, in countries such as France or Spain.
Moreover, the presence on the regional markets represents a determinant aspect for growing the notoriety of Rompetrol brand. It is a Romanian name with an important impact also abroad, which gives it a special weight and puts Rompetrol in a selected gallery of brands successfully representing Romania abroad.
The social responsibility campaigns, the marketing and communication strategies, and, not least, observing and keeping commitments undertaken at social and economic level should not be neglected.
According to the analyses of the Brand Finance experts, Rompetrol ranks the 9th in top 10 for Romania. Here is the full ranking: 1. Dacia, 2. Emag, 3. Dedeman, 4. Petrom, 5. Banca Transilvania, 6. Digi RCS-RDS, 7. BRD, 8. Bitdefender, 9. Rompetrol, 10. ENEL.
Source: https://bit.ly/2LfkOmv
According to the report, Rompetrol has an estimated value of EUR 111 million and managed a growth from EUR 77 million, as it recorded last year. An important catalyst of the brand value growth consists in the exceptional operational results recorded in the past year at the level of Petromidia and Vega refineries, the two extremely important assets under the umbrella of Rompetrol Rafinare. The historical records registered by the two refineries translate as the best year for Rompetrol Rafinare, its performance exceeding any expectations.
Petromidia refinery reached 11 historical records in 2018, in chapters such as processed raw materials (5.92 million tons), obtained petroleum products (5.78 million tons), production of gasolines (1.36 million tons) or diesel fuels (2.75 million tons).
At the same time, Vega, the refinery which has been operating from as early as 1905, managed to break 8 historical records, for the processed raw materials, products obtained (bitumen, solvent, hexane) or the level of use of the refining capacity.
Indisputably, the quality of the products obtained by the two refineries contributed to the growth of Rompetrol brand. After the major investments, fuels tending to Euro6 norms are manufactured at Petromidia refinery, the production of Jet fuel significantly increased, which shows that Rompetrol Rafinare is a refiner also targeting to other niches. At the same time, Petromidia holds the only petrochemistry division in Romania, which supplies raw materials for half the plastic materials manufactured in the country.
Also, Vega refinery is the only manufacturer of bitumen and hexane in Romania, with record productions in 2018. The development of these products brings added value to the consumer market in the country. The uniqueness of the two refineries is a strong point on which the Group’s strategy is built (Petromidia is the largest refinery in the country, one of the most important in South-Eastern Europe, and Vega is the longest-lasting unit of this type in Romania).
The company’s rise started after its privatization
Although it was not in the forefront from the beginning, Rompetrol is a brand with a history of over 40 years. The company was established in 1974 in order to represent the oil industry of Romania abroad, a sector with a history and experience of over 160 years. The company provided services in the crude oil extraction area in countries such as Iran, Iraq, Sudan, Libya, Saudi Arabia.
After the fall of the communist regime, the companies faced several difficult moments but, after its privatization in 2001, its rise started due to several inspired movements: purchase of Petromidia refinery - affected by the conditions of the transition economy. After the privatization, the construction of a network of gas stations started, first in Romania, then in the Black Sea area, reaching Western Europe: after Dyneff local network was purchased, the Rompetrol logo appeared in the gas stations in Southern France and Northern Spain.
Afterwards, the Rompetrol business was sold to the national oil company of Kazakhstan, KazMunaiGas, which kept the Rompetrol brand and which, moreover, took it to a new stage of performance.
The exceptional results of the recent years, crowned by the records of 2018, may be ascribed to the major investments made from 2007 (the year of takeover by KazMunayGas) until present: over USD 1.6 billion. The considerable amounts are the guarantee for success. In a period in which numerous refineries of Europe were closed, the Kazakh investor managed to revitalize two extremely important industrial platforms for the Romanian economy.
Rompetrol Rafinare, important contribution to the State budget
The investments of KMGI shall not stop in the near future. By creation of the Kazakh-Romanian Energy Investments Fund, the Group shall allocate in total approximately one billion dollars. The most important project on the table is the construction of a cogeneration installation, which shall assure energy independence to Petromidia platform, and will also help the adjoining communities because it shall provide thermal energy in advantageous conditions to the localities neighboring the largest refinery of Romania.
The contribution of Rompetrol Rafinare to the State budget of Romania is also worth mentioning. In 2018 alone, the company paid taxes and duties to the State totaling over USD 1.5 billion. At the level of the entire country, the activity of KMG International Group generates contracts with over 3,500 external partners each month. Consequently, Rompetrol is one of the main supporters of the horizontal economic growth and contributes to higher standard of living in Dobrogea, Prahova, Bucharest, Sălaj, as well as in the rest of the country, taking into account that its network includes over 926 fuel distribution points, plus the six storage facilities located in all the interest areas in Romania.
Another element which helped it make it to the top 10 is its constant proneness to improving the retail activities at the level of the group. For instance, in 2013, it started a comprehensive rebranding process of Rompetrol stations throughout the country. At present, Rompetrol may be proud of some of the most modern and welcoming fuel stations in Romania which attract more and more clients each year and turns them into loyal clients through the quality of the products and fuels. And this model was taken over in other countries with an important presence of the company: Bulgaria, Moldova, Georgia or even Western Europe, in countries such as France or Spain.
Moreover, the presence on the regional markets represents a determinant aspect for growing the notoriety of Rompetrol brand. It is a Romanian name with an important impact also abroad, which gives it a special weight and puts Rompetrol in a selected gallery of brands successfully representing Romania abroad.
The social responsibility campaigns, the marketing and communication strategies, and, not least, observing and keeping commitments undertaken at social and economic level should not be neglected.
According to the analyses of the Brand Finance experts, Rompetrol ranks the 9th in top 10 for Romania. Here is the full ranking: 1. Dacia, 2. Emag, 3. Dedeman, 4. Petrom, 5. Banca Transilvania, 6. Digi RCS-RDS, 7. BRD, 8. Bitdefender, 9. Rompetrol, 10. ENEL.
Source: https://bit.ly/2LfkOmv