Oil Terminal's revenue and profit down

Oil Terminal (OIL), the company that operates the oil terminal in the Port of Constanta, reported a 65% decline in net profit in the first half of the year, to 12.8 million lei, while revenues from the provision of services amounted to 184 million lei, down by 20% compared to those reported in the first six months of last year, according to the issuer's report published yesterday on the Bucharest Stock Exchange (BVB) website.

The decline was caused by the reduction in the amount of products handled through the oil terminal, compared to the first half of last year. Crude oil volumes decreased by 26% to 1.85 million tonnes, while diesel volumes decreased by 18% to 1.63 million tonnes. Chemical volumes decreased by 48% to 245 million tonnes, while total product volumes were 3.95 million tonnes, 23% lower than in the first six months of last year.

The regulated tariffs charged by the company in the first half of 2025 for crude oil, diesel, biodiesel and gasoline services are those approved by ANRM in December 2023 and in force since January 2024.

Personnel expenses amounted to almost 85 million lei, 9% more than in the first six months of last year, while depreciation expenses were 15 million lei, 21% higher than those incurred in the period January-June 2024. In contrast, other operating expenses decreased by 38%, to 44.6 million lei.

The Oil Terminal company is composed of three warehouses, with a total storage capacity of approximately 1.1 million cubic meters, of which: North Platform Section - warehouse decommissioned; Port Platform Section, located in Port Berth 69, with a storage capacity of approximately 103,000 cubic meters, intended for storing petroleum products and liquid chemical products; South Platform Section, capacity of approximately 968,000 cubic meters, used for storing crude oil, gasoline, diesel, fuel oil.

The Romanian State owns, through the Ministry of Energy, 87.7% of the port operator in Constanta, whose stock market valuation amounts to approximately 350 million lei.