Romania Oil and Gas Report Q2 2015

  • February 2015
  • -
  • Business Monitor International
  • -
  • 123 pages

Includes 3 FREE quarterly updates

BMI View:

ExxonMobil has completed the Domino-2 appraisal well and is awaiting analysis. Meanwhile it spud the Pelican South-1 well also in the Neptun block. The results of exploration efforts in the Black Sea have the potential to transform upstream gas production, while redevelopments and EOR are boosting oil. Upgrades are helping to improve efficiencies in the refining sector, though a weak demand market and alleged corruption highlight the ongoing challenges.

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

- Fuel prices in Romania fell 20% in 2014. As a result we expect to see growth in refined product demand in 2015 - albeit marginal - for the first time in six years.

Table Of Contents

Romania Oil and Gas Report Q2 2015
BMI Industry View 7
Table: Headline Forecasts (Romania 2013-2019) 7
SWOT 9
Oil and Gas SWOT 9
Industry Forecast 11
Upstream Exploration 11
Table: Proven Oil and Gas Reserves (Romania 2013-2018) 11
Table: Proven Oil and Gas Reserves (Romania 2019-2024) 11
Upstream Projects 15
Table: Romania Major Upstream Projects 15
Upstream Production - Oil 17
Table: Oil Production (Romania 2013-2018) 17
Table: Oil Production (Romania 2019-2024) 17
Upstream Production - Gas 20
Table: Gas Production (Romania 2013-2018) 20
Table: Gas Production (Romania 2019-2024) 20
Refining 23
Table: Refining Capacity and Refined Products Production (Romania 2013-2018) 23
Table: Refining Capacity and Refined Products Production (Romania 2019-2024) 23
Refined Fuels Consumption 26
Table: Refined Products Consumption* (Romania 2013-2018) 26
Table: Refined Products Consumption* (Romania 2019-2024) 26
Gas Consumption 28
Table: Gas Consumption (Romania 2013-2018) 28
Table: Gas Consumption (Romania 2019-2024) 28
Trade - Oil 30
Table: Crude Oil Net Exports (Romania 2013-2018) 30
Table: Crude Oil Net Exports (Romania 2019-2024) 30
Table: Refined Fuels Net Exports (Romania 2013-2018) 31
Table: Refined Fuels Net Exports (Romania 2019-2024) 32
Table: Total Net Oil Exports - Crude and Products (Romania 2013-2018) 33
Table: Total Net Oil Exports - Crude and Products (Romania 2019-2024) 33
Trade - Gas (Pipeline and LNG) 34
Table: Gas Net Exports (Romania 2013-2018) 34
Table: Gas Net Exports (Romania 2019-2024) 34
Industry Risk Reward Ratings 37
Central And Eastern Europe OilandGas Risk/Reward Index 37
Table: High Risk, Low Reward 37
Table: Central And Eastern Europe Risk/Reward Index 38
Upstream: Above-Ground Risks Limit Caspian And Russia 38
Regional Minnows Breaking Through 40
Table: CEE Upstream Risk/Reward Index 41
Downstream: Turkey Offers Bright Spot In Weak Market 41
Table: CEE Downstream Risk/Reward Index 42
Romania Risk/Reward Index 45
Romania Upstream Index - Overview 45
Romania Upstream Index - Rewards 45
Romania Upstream Index - Risks 46
Romania Downstream Index - Overview 46
Market Overview 47
Romania Energy Market Overview 47
Licensing And Regulation 47
Fiscal Regime 47
Table: Key Tax Rates Of Romanian Oil And Gas 47
Government Policy 48
Licensing Rounds 49
Oil And Gas Infrastructure 51
Oil Refineries 51
Table: Refineries In Romania 51
Service Stations 54
Oil Terminals 54
Oil Pipelines 55
Gas Storage 55
Gas Pipelines 55
Competitive Landscape 57
Competitive Landscape Summary 57
Table: Key Players - Romania Oil And Gas Sector 58
Table: Key Upstream Players 59
Table: Key Downstream Players 59
Company Profile 60
OMV Petrom 60
Romgaz 66
Lukoil 70
Rompetrol 74
Other Summaries 79
Regional Overview 84
Central and Eastern Europe OilandGas Regional Overview 84
CEE Oil Production: Russia Dominates, Caspian To Lead Growth 84
CEE Oil Consumption: Regional Demand Increasing 85
CEE Refining Capacity: Outlook Remains Weak 86
CEE Natural Gas Production: Russia, Caspian Gas Firing China 87
CEE Gas Consumption: Soft Demand Supports Exports 88
Global Industry Overview 90
Global Industry Overview - 5 Themes For 2015: Oil and Gas 90
Table: LNG Export Terminals At Pre-FID Stage 95
Appendix 97
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts 97
Table: Energy Price Forecasts, 2013-2018 97
Table: Energy Price Forecasts, 2018-2023 98
Central And Eastern Europe - Regional Appendix 99
Table: Oil Consumption - Historical Data and Forecasts, 2011-2018 ('000b/d) 99
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d) 100
Table: Oil Production - Historical Data and Forecasts, 2011-2018 ('000b/d) 101
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d) 101
Table: Refining Capacity - Historical Data and Forecasts, 2011-2018 ('000b/d) 102
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d) 103
Table: Gas Consumption - Historical Data and Forecasts, 2011-2018 (bcm) 103
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm) 104
Table: Gas Production - Historical Data and Forecasts, 2011-2018 (bcm) 105
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm) 105
Table: LNG Exports - Historical Data and Forecasts, 2011-2018 (bcm) 106
Table: Net LNG Exports - Long-Term Forecasts, 2015-2023 (bcm) 107
Romania - Total Hydrocarbons, 10-year Forecasts 107
Table: Total Hydrocarbons Production, Consumption and Net Exports (Romania 2013-2018) 107
Table: Total Hydrocarbons Production, Consumption and Net Exports (Romania 2019-2024) 108
Romania - Refined Products Breakdown, 10-year Forecasts 109
Table: Refined Petroleum Products, Production Breakdown (Romania 2013-2018) 109
Table: Refined Petroleum Products, Production Breakdown (Romania 2019-2024) 110
Table: Refined Petroleum Products, Consumption Breakdown (Romania 2013-2018) 111
Table: Refined Petroleum Products, Consumption Breakdown (Romania 2019-2024) 112
Table: Refined Petroleum Products, Net Exports Breakdown (Romania 2013-2018) 113
Table: Refined Petroleum Products, Net Exports Breakdown (Romania 2019-2024) 114
Glossary 116
Table: Glossary Of Terms 116
Methodology 118
Industry Forecast Methodology 118
Source 120
Risk/Reward Index Methodology 120
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 122
Table: Weighting 123

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