Romania Oil and Gas Report Q3 2013

Publisher Name :
Date:5-Jun-2013
No. of pages: 108

BMI View: The exploration efforts of ExxonMobil and OMV Petrom in the Black Sea could signal a turning
point in Romania’s upstream outlook, helping reduce dramatically the country’s gas import dependency
from around 2018. International oil company (IOC) interest in Romania is now on the rise and, if exploited
by the government, could result in much higher investment levels. Romanian Prime Minister Victor Ponta
ha said that he supports shale gas exploration in the country, bringing hope to Chevron and other IOCs
keen to investigate the country’s significant shale gas potential.
The main trends and developments for Romania’s oil and gas sector are:
? Chevron has reaffirmed its commitment to developing Romania’s shale gas resources following the
country’s rejection of a moratorium on shale gas exploration. The US group is the only holder of shale
exploration licences in the country. The Romanian government officially cancelled a moratorium on
shale gas exploration as it seeks to develop new sources of domestic production in order to counter both
an imminent decline in the country’s reserves and its growing dependency on Russian natural gas imports.

Romania Oil and Gas Report Q3 2013

BMI Industry View 7
SWOT 9
Industry Forecast .. 10
Oil And Gas Reserves .. 10
Table: Romania Proven Oil & Gas Reserves And Total Petroleum Data, 2011-2016 . 10
Table: Romania Proven Oil & Gas Reserves And Total Petroleum Data, 2017-2022 . 11
Oil Supply And Demand .. 14
Table: Romania Oil Production, Consumption And Net Exports, 2011-2016 14
Table: Romania Oil Production, Consumption And Net Exports, 2017-2022 14
Gas Supply And Demand . 16
Table: Romania Gas Production, Consumption And Net Exports, 2011-2016 . 16
Table: Romania Gas Production, Consumption And Net Exports, 2017-2022 . 17
Refining And Oil Products Trade .. 19
Table: Romania Refining - Production And Consumption, 2011-2016 19
Table: Romania Refining - Production And Consumption, 2017-2022 19
Revenues/Import Costs . 20
Key Risks To BMI's Forecast Scenario . 20
Industry Risk Reward Ratings 21
CEE - Risk/Reward Ratings .. 21
Table: Central And Eastern Europe Risk/Reward Ratings . 22
Caspian Retains Lead In Upstream Ratings . 22
Table: Upstream Risk/Reward Rating 23
Russian Trouble Persists . 25
Regional Minnows Breaking In .. 27
Downstream Stabilisation 27
Table: CEE Downstream Risk/Reward Ratings 27
Romania - Risk/Reward Ratings .. 31
Romania Upstream Rating - Overview . 31
Romania Upstream Rating - Rewards .. 31
Romania Upstream Rating - Risks . 31
Romania Downstream Rating - Overview 31
Market Overview 32
Romania Energy Market Overview .. 32
Licensing And Regulation 33
Government Policy 34
Licensing Rounds .. 35
International Energy Relations .. 36
Oil & Gas Infrastructure 38
Oil Refineries . 38
Table: Refineries In Romania 38
Service Stations . 41
Oil Storage Facilities 41
Oil Terminals/Ports .. 41
Oil Pipelines .. 41
LNG Terminals .. 42
Gas Storage Facilities .. 42
Gas Pipelines . 43
Competitive Landscape . 45
Table: Key Players - Romania Oil And Gas Sector 46
Table: Key Upstream Players 46
Table: Key Downstream Players . 46
Company Profile . 47
OMV Petrom 47
Romgaz . 53
Lukoil . 57
Rompetrol . 60
Other Companies - Summary 63
Regional Overview 68
Europe Energy Overview .. 68
A Dependent Relationship 70
Looking For A Break Up . 72
Central Asia: Beneficiaries Of Europe's Russian Fatigue . 74
Moving From Pipeline To LNG .. 75
Russia Strikes Back .. 76
Eastern Europe: Black Sea Gold Rush . 77
Shale Gas Showdown 78
Global Industry Overview .. 80
Global Energy Market Overview . 80
Table: BMI's Oil Price Forecasts & Bloomberg Analyst Consensus, Average Price (US$/bbl) . 81
Table: Global Oil Demand Forecasts 88
Industry Trend Analysis . 90
Growing Implementation Base 91
Developed Drive 93
Appendix . 94
Central And Eastern Europe - Regional Appendix 94
Table: Oil Consumption - Historical Data & Forecasts, 2010-2017 ('000b/d) . 94
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d) . 95
Table: Oil Production - Historical Data & Forecasts, 2010-2017 ('000b/d) 95
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d) . 96
Table: Refining Capacity - Historical Data & Forecasts, 2010-2017 ('000b/d) 97
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d) 97
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm) 98
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm) 99
Table: Gas Production - Historical Data & Forecasts, 2010-2016 (bcm) 99
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm) . 100
Table: LNG Exports - Historical Data & Forecasts, 2010-2017 (bcm) . 101
Table: Net LNG Exports - Long-Term Forecasts, 2014-2021 (bcm) . 101
Glossary 102
Table: Glossary Of Terms . 102
Methodology .. 104
Oil & Gas Risk/Reward Ratings Methodology . 104
Ratings Overview 104
Table: BMI's Oil & Gas Risk Reward Ratings - Structure 105
Indicators . 105
Table: BMI's Oil & Gas Business Environment Upstream Ratings - Methodology . 105
Oil & Gas Forecasts Methodology . 107
Energy Industry .. 107
Cross checks 108
Sources . 108Table: Romania Proven Oil & Gas Reserves And Total Petroleum Data, 2011-2016
Table: Romania Proven Oil & Gas Reserves And Total Petroleum Data, 2017-2022
Table: Romania Oil Production, Consumption And Net Exports, 2011-2016
Table: Romania Oil Production, Consumption And Net Exports, 2017-2022
Table: Romania Gas Production, Consumption And Net Exports, 2011-2016
Table: Romania Gas Production, Consumption And Net Exports, 2017-2022
Table: Romania Refining - Production And Consumption, 2011-2016
Table: Romania Refining - Production And Consumption, 2017-2022
Table: Central And Eastern Europe Risk/Reward Ratings
Table: Upstream Risk/Reward Rating
Table: CEE Downstream Risk/Reward Ratings
Table: Refineries In Romania
Table: Key Players - Romania Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Table: BMI's Oil Price Forecasts & Bloomberg Analyst Consensus, Average Price (US$/bbl)
Table: Global Oil Demand Forecasts
Table: Oil Consumption - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Refining Capacity - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2010-2016 (bcm)
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
Table: LNG Exports - Historical Data & Forecasts, 2010-2017 (bcm)
Table: Net LNG Exports - Long-Term Forecasts, 2014-2021 (bcm)
Table: Glossary Of Terms
Table: BMI's Oil & Gas Risk Reward Ratings - Structure
Table: BMI's Oil & Gas Business Environment Upstream Ratings - Methodology

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