Romania Oil and Gas Report Q3 2016

Date: June 15, 2016
Pages: 76
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: R6C1A83B173EN

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Includes 3 FREE quarterly updates

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

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. As of May 2016, there is no further information on hypothetical development plans.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.
  • Oil output dropped slightly to around 78,830b/d over 2015 and we forecast production to remain relatively stable over the coming two years before falling past 2018.
  • Romania has increased refined product exports over 2014-2015, with strong refining margins supporting increased output. Strong domestic consumption however has prevented a stronger refined products exportsurge over 2015.
  • Imports of crude oil remained stable over 2015 and we expect this to remain stable over the coming years given our forecast for steady refined products output.
  • After strong consumption growth over 2014 and 2015, we anticipate a stagnation in consumption over the coming years as the Romanian economy becomes more efficient and energy-intensive industries reduce usage.
  • 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.
BMI Industry View
  Table: Headline Forecasts (Romania 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Romania Major Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Romania 2014-2019)
  Table: Oil Production (Romania 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Romania 2014-2019)
  Table: Gas Production (Romania 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Romania 2014-2019)
  Table: Refining Capacity and Refined Products Production (Romania 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Romania 2014-2019)
  Table: Refined Products Consumption* (Romania 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Romania 2014-2019)
  Table: Gas Consumption (Romania 2020-2025)
Trade - Oil
Latest Updates
Structural Trends
Crude Oil
  Table: Crude Oil Net Exports (Romania 2014-2019)
  Table: Crude Oil Net Exports (Romania 2020-2025)
Refined Products
  Table: Refined Fuels Net Exports (Romania 2014-2019)
  Table: Refined Fuels Net Exports (Romania 2020-2025)
Trade - Gas (Pipeline and LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Romania 2014-2019)
  Table: Gas Net Exports (Romania 2020-2025)
Industry Risk/Reward Index
Central And Eastern Europe Oil & Gas Risk/Reward Index
  Table: CEE: High Risk, Low Reward
  Table: CEE Upstream, Downstream And Overall Risk/Reward Index
Upstream: China Still The Target Market
  Table: CEE Upstream Risk/Reward Index
Downstream: Turkish STAR Only Bright Spot In Weak Market
  Table: CEE Downstream Risk/Reward Index
Romania Risk/Reward Index
Romania Upstream Index
Romania Downstream Index
Market Overview
Romania Energy Market Overview
Licensing And Regulation
Fiscal Regime
  Table: Key Tax Rates Of Romanian Oil And Gas
Government Policy
Licensing Rounds
Oil And Gas Infrastructure
Oil Refineries
  Table: Refineries In Romania
Service Stations
Oil Terminals
Oil Pipelines
Gas Storage
Gas Pipelines
  Table: International Natural Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
  Table: Key Players - Romania Oil & Gas Sector
  Table: Key Upstream Players
  Table: Key Downstream Players
Company Profile
OMV Petrom
Latest Updates
  Table: Major Upstream Assets In Romania
  Table: Key Financial Data (RONmn)
Latest Updates
  Table: Major Upstream Assets In Romania
  Table: Key Financial Data (USDmn)
Regional Overview
Central And Eastern Europe Oil & Gas Regional Overview
Oil Production: Oil Powerhouses Falter On Weak Prices
Oil Consumption: Short-Term Weakness As Russia Struggles
Refining Capacity: Modernisation Key To Competing
Natural Gas Production: Gas Ramp-Up Demand Dependent
  Table: Central Asia-China Gas Pipeline Expansions
Gas Consumption: Demand Falters On Struggling Economies
  Table: Central & Eastern Europe Oil & Gas Production & Consumption, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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