Romania Oil & Gas Report

Providing expert analysis, independent forecasts and competitive intelligence on the oil and gas industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Oil & Gas Risk Reward Index, Market Summary, Economic Forecasts, Company Profiles, Competitive Landscape and Global and Regional Overview.

Why you should buy this report

  • Benefit from the latest market opportunities
  • Understand the threats to your operations and investments and protect your company against future risks
  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
×

Sign up to download the Romania Oil & Gas Report

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.

Thank you for your interest

You will shortly receive your free executive summary by email.

Romania Oil & Gas Report
Product Price
$1,295.00

BMI View: Investment into E&P is waning as major offshore drilling programmes have concluded, though field redevelopment p rojects continue over the short term. Refinery output demand and fuels demand have both improved on the back of lower oil price s .

Headline Forecasts (Romania 2014-2020)
2014 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: BMI, JODI, EIA
Crude, NGPL & other liquids prod, 000b/d 89.2 88.0 85.3 84.9 81.7 78.9 75.5
Dry natural gas production, bcm 9.6 9.7 9.6 9.4 9.2 8.9 12.6
Dry natural gas consumption, bcm 11.5 11.4 11.3 11.3 11.4 11.5 11.7
Refined products production, 000b/d 208.1 210.8 202.4 200.7 200.3 201.3 203.3
Refined products consumption & ethanol, 000b/d 188.1 195.4 196.2 196.0 194.9 194.3 195.6
Brent, USD/bbl 99.50 53.60 40.00 53.00 62.00 65.00 71.00

The main trends and developments for Romania's oil and gas sector are:

  • The conclusion of the ExxonMobil/ OMV Neptun Block drilling programme should support a final investment decision on the Domino project in 2016. Early indications are expecting an increase in potential resources above the 42-84bcm initial estimate.

  • Lukoil is due to follow up its estimated 30bcm gas discovery at the Lira-1X well with an appraisal in 2016.

  • OMV Petrom is continuing its 12 field redevelopment programme to mitigate production decline though it has only committed to a further four new projects to 2017.

  • We forecast crude oil production to fall 1.5% in 2015 and 3.4% in 2016.

  • Crude oil imports increased around 3.8% to October 2015 due to weaker production and increased refinery throughput.

  • Romania's refiners benefited from higher margins over 2015, with refined products production up around 1.5% on 2014.

  • Fuels demand has increased 3.8% y-o-y through October 2015, with demand for diesel particularly strong.

  • Industrial gas customers have entered the free market as of January 1 2015. Full liberalisation of the gas market including households has been postponed to July 2021.

  • China Peace Petroleum is reportedly interested in purchasing Lukoil's Poliesti refinery.

  • The National Agency for Mineral Resources (ANRM) is lining up a new oil and gas tender, offering 28 onshore blocks and eight offshore Black Sea blocks. Preparation for the documentation for the tender is in progress, though no timeframe has been outlined as to when it may take place.

BMI Industry View
7
Table: Headline Forecasts (Romania 2013-2019)
7
SWOT
8
Oil & Gas SWOT
8
Industry Forecast
10
Upstream Exploration
10
Table: Proven Oil and Gas Reserves (Romania 2013-2018)
10
Table: Proven Oil and Gas Reserves (Romania 2019-2024)
10
Latest Updates
11
Structural Trends
11
Upstream Projects
13
Table: Romania Major Upstream Projects
13
Upstream Production - Oil
15
Latest Updates
15
Structural Trends
15
Table: Oil Production (Romania 2013-2018)
17
Table: Oil Production (Romania 2019-2024)
17
Upstream Production - Gas
18
Table: Gas Production (Romania 2013-2018)
20
Table: Gas Production (Romania 2019-2024)
20
Refining
21
Latest Updates
21
Structural Trends
21
Table: Refining Capacity and Refined Products Production (Romania 2013-2018)
24
Table: Refining Capacity and Refined Products Production (Romania 2019-2024)
24
Refined Fuels Consumption
25
Latest Updates
25
Structural Trends
25
Table: Refined Products Consumption* (Romania 2013-2018)
26
Table: Refined Products Consumption* (Romania 2019-2024)
27
Gas Consumption
27
Latest Updates
27
Structural Trends
27
Table: Gas Consumption (Romania 2013-2018)
29
Table: Gas Consumption (Romania 2019-2024)
29
Trade - Oil
30
Latest Updates
30
Structural Trends
30
Table: Crude Oil Net Exports (Romania 2013-2019)
31
Table: Crude Oil Net Exports (Romania 2019-2024)
32
Table: Refined Fuels Net Exports (Romania 2013-2018)
33
Table: Refined Fuels Net Exports (Romania 2019-2024)
34
Table: Total Net Oil Exports - Crude and Products (Romania 2013-2018)
34
Table: Total Net Oil Exports - Crude and Products (Romania 2019-2024)
35
Trade - Gas (Pipeline and LNG)
36
Latest Updates
36
Structural Trends
36
Table: Gas Net Exports (Romania 2013-2018)
38
Table: Gas Net Exports (Romania 2019-2024)
38
Industry Risk Reward Ratings
39
Central And Eastern Europe Oil & Gas Risk/Reward Index
39
Table: CEE: High Risk, Low Reward
39
Table: CEE Upstream, Downstream And Overall Risk/Reward Index
40
Upstream: China Still The Target Market
40
Table: CEE Upstream Risk/Reward Index
43
Downstream: Turkish STAR Only Bright Spot In Weak Market
43
Table: CEE Downstream Risk/Reward Index
45
Romania Risk/Reward Index
46
Romania Upstream Index - Overview
46
Romania Upstream Index - Rewards
46
Romania Upstream Index - Risks
46
Romania Downstream Index - Overview
47
Market Overview
48
Romania Energy Market Overview
48
Licensing And Regulation
48
Fiscal Regime
48
Table: Key Tax Rates Of Romanian Oil And Gas
48
Government Policy
49
Licensing Rounds
49
Oil And Gas Infrastructure
51
Oil Refineries
51
Table: Refineries In Romania
51
Service Stations
52
Oil Terminals
52
Oil Pipelines
53
Gas Storage
53
Gas Pipelines
53
Table: International Natural Gas Pipelines
53
Competitive Landscape
54
Competitive Landscape Summary
54
Table: Key Players - Romania Oil & Gas Sector
56
Table: Key Upstream Players
56
Table: Key Downstream Players
56
Company Profile
57
OMV Petrom
57
Romgaz
65
Lukoil
69
Rompetrol
73
Other Summaries
77
Regional Overview
81
Central And Eastern Europe Oil & Gas Regional Overview
81
Oil Production: Caspian Remains Centre Of Growth
81
Oil Consumption: Fuels Demand Gradually Strengthening
82
Refining Capacity: Modernisation Over Capacity Additions
83
Natural Gas Production: Gas Ramp-Up To Feed Red Dragon
84
Table: Central Asia-China Gas Pipeline Expansions
85
Gas Consumption: Demand Falters On Struggling Economies
86
Table: Central & Eastern Europe Oil & Gas Production & Consumption, Refining Capacity & Trade
87
Glossary
89
Table: Glossary Of Terms
89
Methodology
91
Industry Forecast Methodology
91
Source
93
Risk/Reward Index Methodology
93
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
95
Table: Weighting
96q

The Romania Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Romania including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Romania Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Romanian oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Romania to test consensus views - a key input for successful budgeting and strategic business planning in the Romanian oil and gas market.
  • Target business opportunities and risks in the Romanian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Romania.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.