OREANDA-NEWS. August 20, 2007. According to the preliminary unaudited data, the profits of AB Mazeikiu Nafta in the second quarter of 2007 amounted to LTL 84,360 million. If compared to the first quarter of this year, the Company reduced the net loss by more than one half, reported the press-centre of AB Mazeikiu Nafta.

AB Mazeikiu Nafta announces that based on the International Financial Reporting Standards (IFRS) the preliminary consolidated net loss for the first six months of 2007 amounts to LTL 50,6 million (USD 18,3 million or EUR 14,6 million). The revenue for the first six months of 2007 amounted to LTL 4,03 billion (USD 1,56 billion or EUR 1,17 billion).

The sales revenues increased from LTL 1,579.0 million (USD 599,5 million or EUR 457,3  million) in the first quarter to LTL 2,453.1 million (USD 957,6 million or EUR 710,5 million) in the second quarter. The quantity of all feedstock processed increased respectively; in the second quarter it amounted to 1,854.8 thousand tons (compare to 1,324.3 thousand tons in the first quarter). 

"We still feel effects on the last year’s fire," - said Marek Mroczkowski, general director of AB Mazeikiu Nafta. According to Marek Mroczkowski, the fire recovery activities and ongoing modernization allows seeing the Company’s future with optimism.

Last week, the Company commenced start-up and commissioning activities on the new FCC Gasoline Selective Hydrotreatment Unit. It is expected that this unit will help in strengthening the Company’s competitive position on certain European markets to which the Company sell majority of its products.

The Company continues implementation of the modernization program and in the nearest future it is starting the next modernization project – construction of the new hydrogen plant. This plant will supply additional feedstock (hydrogen gas) to the desulphurization processes, which are very important in the current refinery configuration. It will ensure hydrogen supply to the new units of residues processing planned for construction.