Romania Oil & Gas Report Q2 2016 - New Market Study Published

From: Fast Market Research, Inc.
Published: Thu Feb 25 2016


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 .

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.

Full Report Details at
- http://www.fastmr.com/prod/1119160_romania_oil_gas_report_q2.aspx?afid=301

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.

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.

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