Table of Contents
Executive Summary — 7 SWOT
Analysis — 9 Romania Political
SWOT — 9 Romania Economic SWOT — 9
Romania Business Environment SWOT — 10 Romania Energy
Market Overview — 11 Regional Energy Market
Overview — 14 Oil Supply & Demand — 14
Table: Central/Eastern Europe Oil Consumption
(000b/d) — 15 Table: Central/Eastern Europe Oil Production
(000b/d) — 16 Oil: Downstream — 17
Table: Central/Eastern Europe Oil Refining Capacity
(000b/d) — 17 Gas Supply & Demand — 18
Table: Central/Eastern Europe Gas Consumption (bcm) — 18
Table: Central/Eastern Europe Gas Production (bcm) — 19
Liquefied Natural Gas — 20 Table: Central/Eastern Europe
LNG Exports/(Imports) (bcm) — 20 Business Environment
Ranking — 21 Central/Eastern Europe
Region — 21 Composite Scores — 21
Table: Regional Upstream Business Environment Rating — 22
Table: Regional Downstream Business Environment
Rating — 23 Upstream Scores — 23
Downstream Scores — 24 Romania Upstream Rating –
Overview — 24 Romania Upstream Rating – Potential
Returns — 24 Romania Upstream Rating – Risks to
Potential Returns — 24 Romania Downstream Rating –
Overview — 25 Romania Downstream Rating – Potential
Returns — 25 Romania Downstream Rating – Risks to
Potential Returns — 25 Business
Environment — 26 Legal Framework — 26
Infrastructure — 27 Labour Force — 28
Foreign Investment Policy — 29 Tax
Regime — 29 Security Risk — 30
Industry Forecast Scenario — 31 Oil and Gas
Reserves — 31 Oil Supply and
Demand — 31 Gas Supply and Demand — 32
Refining and Oil Products Trade — 32 Revenues/Import
Costs — 32 Table: Romania Oil & Gas – Historical
Data & Forecasts — 33 Other
Energy — 34 Table: Romania Other Energy – Historical
Data & Forecasts — 36 Key Risks To BMI’s Forecast
Scenario — 36 Long-Term Oil & Gas
Outlook — 36 Macroeconomic
Outlook — 37 Table: Romania - Economic
Activity — 39 Competitive
Landscape — 40 Executive Summary — 40
Table: Key Players – Romania Oil & Gas Sector — 41
Overview/State Role — 41 Table: Key Upstream
Players — 43 Table: Key Downstream
Players — 43 Company Monitor — 44 SNP
Petrom — 44 Lukoil Romania — 47
Rompetrol — 49 OMV Romania — 51 Eni
– Summary — 53 ExxonMobil –
Summary — 53 MOL – Summary — 53
Regal Petroleum – Summary — 53 Aurelian Oil & Gas
– Summary — 54 Melrose Resources –
Summary — 55 Glossary of Terms — 56
Oil & Gas Ratings: Revised Methodology — 57
Introduction — 57 Ratings
Overview — 57 Table: BMI Oil & Gas Business Environment
Ratings: Structure — 58 Table: BMI Oil & Gas Business
Environment Upstream Ratings: Methodology — 59 Table: BMI
Oil & Gas Business Environment Downstream Ratings:
Methodology — 60 Oil & Gas Outlook: Long-Term
Forecasts — 62 Regional Oil
Demand — 62 Table: CEE Oil Consumption
(000b/d) — 62 Regional Oil Supply — 63
Table: CEE Oil Production (000b/d) — 63 Regional Refining
Capacity — 64 Table: CEE Oil Refining Capacity
(000b/d) — 64 Regional Gas Demand — 65
Table: CEE Gas Consumption (bcm) — 65 Regional Gas
Supply — 66 Table: CEE Gas Production
(bcm) — 66 Romania Country
Overview — 66 Methodology & Risks To
Forecasts — 67 BMI Forecast
Modelling — 68 How we generate our industry
forecasts — 68 Energy Industry — 69
Cross checks — 69 Sources — 69
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