“Revenues and EBITDA (earnings before interests, taxes, depreciation and amortization) fell 38% in 2009 from a year earlier due to crude oil price drop. EBITDA’s drop of $25 million reflects currency exchange movements”, said Tampiza, as quoted by NewsIn.

In 2008, LukOil Romania reported $2.1 billion revenues and $81 million EBITDA. Tampiza added the company expects similar results in 2010.

Retail fuel sales fell 5% in 2009 due to the economic crisis. “All fields of economics use fuel. And if they have been severely impacted by the crisis, fuel sales suffered accordingly”, said Tampiza.

The group’s investments in Romania for 2010 amount to nearly $45 million and will be steered towards Petrotel – LukOil refinery and LukOil filling stations in Romania.

LukOil in an integrated oil company operating in the field of production of crude oil and gas and their refining into petroleum products and petrochemicals. The 11-year investments in its Romanian operations amount more than one billion dollars.

LukOil has 310 filling stations and ten oil products storage facilities.