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Romania Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020
GlobalData, April 2009, Pages: 148
Romania Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020
Summary
This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Romania. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the crude oil assets (oil fields, refineries, pipelines and storage terminals) in Romania. The report also analyses the fiscal regime relevant to the crude oil assets in Romania and compares the investment environment in Romania with other countries in the region. The profiles of the major companies operating in the crude oil sector in Romania together with the latest news and deals are also included in the report.
Scope
-Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 1995-2020.
-Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in Romania for the period 1995-2020.
-Operator and equity details for major crude oil assets in Romania
-Key information relating to market regulations, key energy assets and the key companies operating in the Romania’s energy industry.
-Detailed information on key fiscal terms (such as rents, bonuses, royalty, cost recovery, profit oil, petroleum and corporate taxes) pertaining the geography is also provided. A sample calculation detailing how fiscal terms apply to a typical asset in the regime is included.
-Information on the top companies in the Romania including business description, strategic analysis, and financial information.
-Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
-Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.
Reasons to buy
-Gain a strong understanding of the country’s energy market.
-Facilitate market analysis and forecasting of future industry trends.
-Evaluate the attractiveness of the geography for oil investment in the light of government policies and the fiscal environment.
-Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
-Understand the geography’s policies and fiscal terms, and their impact on contractor’s profits from upstream oil assets.
-Assess your competitor’s major crude oil assets and their performance.
-Analyze the latest news and financial deals in the oil sector of each country.
-Develop strategies based on the latest operational, financial, and regulatory events.
-Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
-Identify and analyze the strengths and weaknesses of the leading companies in the country.
1 Table Of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Romania Energy Sector 11
2.1 Romania Energy Sector, Market Overview 11
2.2 Romania Energy Sector, Crude Oil 12
2.2.1 Romania Crude Oil, Overview 12
2.2.2 Romania Crude Oil, Supply and Demand Balance 12
2.2.3 Romania Crude Oil, Regulatory Structure 18
2.2.4 Romania Crude Oil, Infrastructure 19
3 Romania Fiscal Regime 20
3.1 Romania Petroleum Fiscal Environment 20
3.2 License Terms 20
3.3 Key Fiscal Terms 21
3.4 Sample Cashflows Calculations 24
4 Romania Oil Upstream Investment Environment Benchmarking 26
4.1 Introduction 26
4.2 The Overall Ranking 26
4.3 Upstream Fiscal Attractiveness 27
4.3.1 Maximum Government Take Index 28
4.3.2 Maximum State Participation 28
4.4 Oil Sector Performance 29
4.4.1 Exploration Activity 31
4.4.2 Oil Production 32
4.4.3 Oil Reserves 32
4.4.4 Oil Consumption 32
4.4.5 Refining Industry 33
4.5 Economic Performance 33
4.5.1 GDP Growth Index 35
4.5.2 FDI Confidence Index 35
4.5.3 Balance of Trade Index 35
4.6 Socio-Political Performance 35
4.6.1 Democracy Index 37
4.6.2 Governance Index 37
5 Romania, Exploration And Production Sector 38
5.1 Romania Exploration and Production Sector, Country Snapshot 38
5.1.1 Romania Exploration and Production Sector, Key Data 38
5.1.2 Romania Exploration and Production Sector, Crude Oil Assets Map 39
5.2 Romania Exploration and Production Sector, Gross Crude Oil Production 40
5.2.1 Romania Exploration and Production Sector, Gross Crude Oil-Historical Production 40
5.2.2 Romania Exploration and Production Sector, Gross Crude Oil Production by Assets 41
5.2.3 Romania Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 41
5.2.4 Romania Exploration and Production Oil Sector, Market Share (%) based on Gross Equity Weighted Crude Oil Production 42
5.3 Romania Exploration and Production Sector, Gross Crude Oil Forecasts 43
5.3.1 Romania Exploration and Production Sector, Gross Crude Oil Forecasted Production 43
6 Romania Pipeline Oil Sector 44
6.1 Romania Pipeline Oil Sector, Key Data 44
6.2 Romania Pipeline Oil Sector, An Overview 44
6.3 Romania Pipeline Oil Sector, Comparison of Key Crude Oil Pipeline Companies 45
6.4 Romania Pipeline Oil Sector, Comparison of Key Petroleum Product Pipeline Companies 46
6.5 Romania Pipeline Oil Sector, Crude Oil Pipelines 47
6.6 Romania Pipeline Oil Sector, Petroleum Product Pipelines 48
7 Romania Refining Sector 49
7.1 Romania Refining Sector, Key Data 49
7.2 Romania Refining Sector, An Overview 49
7.2.1 Romania Refining Sector, Total Refining Capacity 49
7.3 Romania Refining Sector, Capacity- Wise Market Share By Company 50
7.4 Romania Refining Sector, Crude Distillation Unit Capacity 53
7.5 Romania Refining Sector, Coking Capacity 54
7.6 Romania Refining Sector, Fluid Catalytic Cracking Capacity 54
7.7 Romania Refining Sector, Hydrocracking Capacity 55
8 Romania Oil and Chemicals Storage Sector 56
8.1 Romania Oil and Chemicals Storage Oil Sector, Key Data 56
8.2 Romania Oil and Chemicals Storage Oil Sector, An Overview 56
8.2.1 Romania Oil and Chemicals Storage Oil Sector, Total Storage Capacity 56
8.3 Romania Oil and Chemicals Storage Oil Sector, Capacity- Wise Market Share By Company 58
8.4 Romania, Oil and Chemicals Storage Sector, Storage Capacity 60
9 Profile of LUKOIL Oil Company 61
9.1 LUKOIL Oil Company, Key Information 61
9.2 LUKOIL Oil Company, Company Overview 61
9.3 LUKOIL Oil Company, Business Description 61
9.3.1 LUKOIL Oil Company, Business Description, Business Overview 61
9.3.2 LUKOIL Oil Company, Business Description, Chemicals 62
9.3.3 LUKOIL Oil Company, Business Description, Exploration and Production 62
9.3.4 LUKOIL Oil Company, Business Description, Refining Marketing and Distribution 64
9.3.5 LUKOIL Oil Company, Business Description, Major Products and Services 65
9.4 LUKOIL Oil Company, Value Chain Analysis 67
9.4.1 LUKOIL Oil Company, Value Chain Analysis, Upstream 68
9.4.2 LUKOIL Oil Company, Value Chain Analysis, Midstream 69
9.4.3 LUKOIL Oil Company, Value Chain Analysis, Downstream 69
9.4.4 LUKOIL Oil Company, Value Chain Analysis, Retail 70
9.5 LUKOIL Oil Company, SWOT Analysis 71
9.5.1 LUKOIL Oil Company, SWOT Analysis, Overview 71
9.5.2 LUKOIL Oil Company, SWOT Analysis, Strengths 71
9.5.3 LUKOIL Oil Company, SWOT Analysis, Weaknesses 73
9.5.4 LUKOIL Oil Company, SWOT Analysis, Opportunities 73
9.5.5 LUKOIL Oil Company, SWOT Analysis, Threats 74
9.6 LUKOIL Oil Company, Revenue Analysis 75
9.6.1 LUKOIL Oil Company, Revenue by Segment 75
9.6.2 LUKOIL Oil Company, Revenue by Geography 76
9.7 LUKOIL Oil Company, Financial and Operational Review 77
9.7.1 Financial Statements 77
9.7.2 Financial Ratios 78
10 Profile of ExxonMobil Corporation 79
10.1 ExxonMobil Corporation, Key Information 79
10.2 ExxonMobil Corporation, Company Overview 79
10.3 ExxonMobil Corporation, Business Description 79
10.3.1 ExxonMobil Corporation, Business Description, Overview 79
10.3.2 ExxonMobil Corporation, Business Description, Chemical 79
10.3.3 ExxonMobil Corporation, Business Description, Downstream 81
10.3.4 ExxonMobil Corporation, Business Description, Upstream 83
10.4 ExxonMobil Corporation, Value Chain Analysis 85
10.4.1 ExxonMobil Corporation, Value Chain Analysis, Upstream 85
10.4.2 ExxonMobil Corporation, Value Chain Analysis, Midstream 86
10.4.3 ExxonMobil Corporation, Value Chain Analysis, Downstream 87
10.4.4 ExxonMobil Corporation, Value Chain Analysis, Retail 87
10.5 ExxonMobil Corporation, SWOT Analysis 87
10.5.1 ExxonMobil Corporation, SWOT Analysis, Overview 87
10.5.2 ExxonMobil Corporation, SWOT Analysis, Strengths 88
10.5.3 ExxonMobil Corporation, SWOT Analysis, Weaknesses 90
10.5.4 ExxonMobil Corporation, SWOT Analysis, Opportunities 91
10.5.5 ExxonMobil Corporation, SWOT Analysis, Threats 93
10.6 ExxonMobil Corporation, Revenue Analysis 95
10.6.1 ExxonMobil Corporation, Revenue by Segment 95
10.6.2 ExxonMobil Corporation, Revenue by Geography 95
10.7 ExxonMobil Corporation, Financial and Operational Review 97
10.7.1 Financial Statements 97
10.7.2 Financial Ratios 98
11 Profile of Royal Dutch Shell Plc 99
11.1 Royal Dutch Shell Plc, Key Information 99
11.2 Royal Dutch Shell Plc, Company Overview 99
11.3 Royal Dutch Shell Plc, Business Description 99
11.3.1 Royal Dutch Shell Plc, Business Description, Overview 99
11.3.2 Royal Dutch Shell Plc, Business Description, Chemicals 100
11.3.3 Royal Dutch Shell Plc, Business Description, Corporate and Others 101
11.3.4 Royal Dutch Shell Plc, Business Description, Exploration and Production 101
11.3.5 Royal Dutch Shell Plc, Business Description, Gas and Power 103
11.3.6 Royal Dutch Shell Plc, Business Description, Oil Products 105
11.3.8 Royal Dutch Shell Plc, Business Description, Oil Sands 107
11.4 Royal Dutch Shell Plc, Value Chain Analysis 108
11.4.1 Royal Dutch Shell Plc, Value Chain Analysis, Upstream 108
11.4.2 Royal Dutch Shell Plc, Value Chain Analysis, Midstream 109
11.4.3 Royal Dutch Shell Plc, Value Chain Analysis, Retail 110
11.4.4 Royal Dutch Shell Plc, Value Chain Analysis, Power Generation 111
11.4.5 Royal Dutch Shell Plc, Value Chain Analysis, Transformation 111
11.5 Royal Dutch Shell Plc, SWOT Analysis 112
11.5.1 Royal Dutch Shell Plc, SWOT Analysis, Overview 112
11.5.2 Royal Dutch Shell Plc, SWOT Analysis, Strengths 114
11.5.3 Royal Dutch Shell Plc, SWOT Analysis, Weaknesses 114
11.5.4 Royal Dutch Shell Plc, SWOT Analysis, Opportunities 115
11.5.5 Royal Dutch Shell Plc, SWOT Analysis, Threats 116
11.6 Royal Dutch Shell Plc, Revenue Analysis 117
11.6.1 Royal Dutch Shell Plc, Revenue by Segment 117
11.6.2 Royal Dutch Shell Plc, Revenue by Geography 118
11.7 Royal Dutch Shell plc, Financial and Operational Review 119
11.7.1 Financial Statements 119
11.7.2 Financial Ratios 120
12 Financial Deals Landscape 121
12.1 Detailed Deal Summary 121
12.1.1 Asset Transactions 121
13 Recent Developments 124
13.1 License Awards 124
13.1.1 Nov 26, 2008: Sterling Wins Approval For New Fiscal Arrangement Offshore Romania 124
13.2 Strategy and Business Expansion 124
13.2.1 Oct 17, 2008: Gazprom To Build A New Gas Pipeline Via Romania 124
13.3 Recent Discoveries 125
13.3.1 Sep 16, 2008: Sterling Encounters Gas At Ana-2 Appraisal Well In Romanian Black Sea 125
13.4 Drilling and Production Updates 126
13.4.1 Feb 13, 2009: Aurelian Provides Test Results Of Lilieci-1 Well In EIII-4 Bacau Concession, Romania 126
13.4.2 Oct 01, 2008: Regal Petroleum Updates On RBN-S1 Well In Barlad Concession, Romania 127
13.4.3 Aug 28, 2008: Sterling Commences Drilling On Ana-2 Well In Romanian Black Sea 128
13.4.4 Aug 21, 2008: Aurelian Commences Drilling At Lilieci-1 Well In Bacau Concession, Romania 128
13.4.5 Aug 05, 2008: Aurelian Announces Results Of Well Vicsani-1 In Brodina Concession, Romania 129
13.4.6 Jul 15, 2008: Aurelian Drills Vicsani-1 Well In Brodina Concession, Romania 130
13.4.7 Jul 01, 2008: Aurelian Announces Fratauti-2 Results, Romania 130
13.5 Financial Announcements 131
13.5.1 Feb 12, 2009: Rompetrol Reports Year-End 2008 Results 131
13.5.2 Aug 06, 2008: Petrom Declares 2Q 2008 Results 133
13.6 Other Significant Developments 137
13.6.1 Jan 30, 2009: Kairiki Provides Q2 2008 Operational Update 137
13.6.2 Dec 19, 2008: Aurelian Updates On Lilieci-1 Well In Bacau Concession, Romania 139
13.6.3 Nov 13, 2008: Regal Petroleum Provides Ukraine And Romania Operations Update 139
13.6.4 Nov 05, 2008: Oracle Provides Romanian Operations Update 140
13.6.5 Jul 02, 2008: Turkey To Sign Inter-Governmental Agreement On Nabucco Pipeline Project 141
13.6.6 Apr 23, 2008: Romania, Serbia And Croatia Agree To Build $5.6 Billion Oil Pipeline 142
13.7 New Contracts Announcements 142
13.7.1 Dec 03, 2008: ExxonMobil Signs Agreement With Petrom To Help Explore Neptun Block, Offshore Romania 142
14 Appendix 144
14.1 Methodology 144
14.1.1 Coverage 144
14.1.2 Secondary Research 145
14.1.3 Primary Research 145
14.1.4 E&P Forecasts 146
14.1.5 Midstream Forecasts 147
14.1.6 Expert Panel Validation 147
14.2 Contact Us 148
14.3 About Us 148
14.4 Disclaimer 148
Executive Summary
1.1 List of Tables
Table 1: Romania, Historical and Forecasted Production and Consumption of Crude Oil, 1996-2020 13
Table 2: Romania, Historical and Forecasted Import of Crude Oil, 1996-2020 15
Table 3: Romania, Historical Reserves of Crude Oil, 1996-2008 17
Table 4: Romania, Crude Oil Royalty Rate, 2007 22
Table 5: Romania, Natural Gas Royalty Rate, 2007 22
Table 6: Eastern Europe, Investment Benchmarking, Overall Country Rankings, April 2008 26
Table 7: Eastern Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, April 2008 27
Table 8: Eastern Europe, Investment Benchmarking, Oil Sector Performance, April 2008 29
Table 9: Eastern Europe, Investment Benchmarking, Economic Performance, April 2008 33
Table 10: Eastern Europe, Country Standings, Economic Performance, April 2008 34
Table 11: Eastern Europe, Investment Benchmarking, Socio-Political Performance, April 2008 36
Table 12: Eastern Europe, Country Standings, Socio-Political Performance, April 2008 36
Table 13: Romania, Crude Oil Key Statistics, 2008 38
Table 14: Romania, Total Gross Crude Oil Production (MMBBLs), 2001-2008 40
Table 15: Romania, Gross Crude Oil Production (MMBBLs), by Assets, 2001-2008 41
Table 16: Romania, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company, 2001-2008 41
Table 17: Romania, Market Share (%) based on Gross Equity Weighted Crude Oil Production, 2001-2008 42
Table 18: Romania, Gross Crude Oil Production (MMBBLs), Forecast by Assets, 2009-2014 43
Table 19: Romania, Pipeline Key Statistics, 2008 44
Table 20: Romania, Crude Oil Pipelines, 2008 47
Table 21: Romania, Petroleum Product Pipelines, 2008 48
Table 22: Romania, Refinery Key Statistics, 2008 49
Table 23: Romania, Total Refining Capacity (MMTPA), 2000- 2013 49
Table 24: Romania, Refining Capacity-Wise Market Share By Company 50
Table 25: Romania, Crude Distillation Unit Capacity (MMTPA), 2000-2013 53
Table 26: Romania, Coking Unit Capacity (MMTPA), 2000-2013 54
Table 27: Romania, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2013 54
Table 28: Romania, Hydrocracking Unit Capacity (MMTPA), 2000-2013 55
Table 29: Romania, Oil Storage Key Statistics, 2008 56
Table 30: Romania, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2013 56
Table 31: Romania, Oil and Chemicals Storage Capacity, Company-wise (Thousand M3), 2000-2013 58
Table 32: Romania, Storage Capacity (Thousand M3), 2000-2013 60
Table 33: LUKOIL Oil Company, Key Facts 61
Table 34: LUKOIL Oil Company, SWOT Analysis 71
Table 35: LUKOIL Oil Company, Revenue by Segment, USD Million, 2003-2007 76
Table 36: LUKOIL Oil Company, Revenue by Geography, USD Million, 2003-2007 76
Table 37: LUKOIL Oil Company, Financial Statements, USD Million, 2003-2007 77
Table 38: LUKOIL Oil Company, Financial Ratios, USD Million, 2003-2007 78
Table 39: ExxonMobil Corporation, Key Facts 79
Table 40: ExxonMobil Corporation, SWOT Analysis 88
Table 41: ExxonMobil Corporation, Revenue by Segment, USD Million, 2003-2007 95
Table 42: ExxonMobil Corporation, Revenue by Geography, USD Million, 2003-2007 96
Table 43: ExxonMobil Corporation, Financial Statements, USD Million, 2003-2007 97
Table 44: ExxonMobil Corporation, Financial Ratios, USD Million, 2003-2007 98
Table 45: Royal Dutch Shell plc, Key Facts 99
Table 46: Royal Dutch Shell plc, SWOT Analysis 113
Table 47: Royal Dutch Shell plc, Revenue by Segment, USD Million, 2003-2007 118
Table 48: Royal Dutch Shell plc, Revenue by Geography, USD Million, 2003-2007 118
Table 49: Royal Dutch Shell plc, Financial Statements, USD Million, 2003-2007 119
Table 50: Royal Dutch Shell plc, Financial Ratios, USD Million, 2003-2007 120
Table 51: Toreador To Sell Romanian Assets To Lotus Petroleum 121
Table 52: Toreador Resources To Sell Viperesti Exploration Block To Amromco Energy 122
Table 53: Winstar To Acquire 60% Interest In The Onshore Satu Mare Concession From The Rompetrol 123
LUKOIL Oil Company
ExxonMobil Corporation
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