Oil Terminal Constanta, the operator of state owned oil terminal in the Black Sea reported a net profit of RON16,698 ($4,321) in the first quarter, 2018, down 99.7% than the net profit of RON6.77m ($1.7m) obtained in the same period of 2017, according to data sent by the Bucharest Stock Exchange.
Net turnover decreased 8% to RON33.78m in the first quarter compared with the same period in 2017. The company attributes the drop to “the diminishing by 33% of revenues from storage.”
The achieved revenues from operations have fallen by 7.2% to RON34.07m.
At present, Oil Terminal is involved in 76 court trials. In 24 cases, the company is the defendant and in 52 cases it is plaintiff or an opposing party. The company records provisions of RON811.29m for litigations on March 31, 2018.
Oil Terminal Constanta boasts a storage capacity of 1.5 million cbm and a petroleum terminal with seven operational jetties. Oil Terminal has three storage farms which have the capability to handle crude oil, gasoline, gas oil, fuel oil, chemical and petrochemical products, oils from import or for export and transit.
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23rd May 2018