Overview:

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 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 2000-2020.
- Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in Romania for the period 2000-2015.
- 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.
- 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.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- 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."

Companies Mentioned

OMV Petrom SA
Exxon Mobil Corporation
LUKOIL Oil Company

1 Table Of Contents 2
1.1 List of Tables 7
1.2 List of Figures 9
2 Romania Energy Sector 10
2.1 Romania Energy Sector, Market Overview 10
2.2 Romania Energy Sector, Crude Oil 11
2.2.1 Romania Crude Oil, Overview 11
2.2.2 Romania Crude Oil, Supply and Demand Balance 11
2.2.3 Romania Crude Oil, Regulatory Structure 18
2.2.4 Romania Crude Oil, Infrastructure 18
3 Romania Oil Upstream Investment Environment Benchmarking 19
3.1 Introduction 19
3.2 The Overall Ranking 19
3.3 Upstream Fiscal Attractiveness 20
3.3.1 Maximum Government Take Index 21
3.3.2 Maximum State Participation 21
3.4 Oil Sector Performance 22
3.4.1 Exploration Activity 24
3.4.2 Oil Production 25
3.4.3 Oil Reserves 25
3.4.4 Oil Consumption 25
3.4.5 Refining Industry 26
3.5 Economic Performance 26
3.5.1 GDP Growth Index 28
3.5.2 FDI Confidence Index 28
3.5.3 Balance of Trade Index 28
3.6 Socio-Political Performance 28
3.6.1 Democracy Index 30
3.6.2 Governance Index 30
4 Romania, Exploration And Production Sector 31
4.1 Romania Exploration and Production Sector, Country Snapshot 31
4.1.1 Romania Exploration and Production Sector, Key Data 31
4.1.2 Romania Exploration and Production Sector, Crude Oil Assets Map 31
4.2 Romania Exploration and Production Sector, Gross Crude Oil Production 32
4.2.1 Romania Exploration and Production Sector, Total Gross Crude Oil-Historical Production 32
4.2.2 Romania Exploration and Production Sector, Gross Crude Oil-Historical Production by Type 33
4.2.3 Romania Exploration and Production Sector, Gross Crude Oil Production by Assets 34
4.2.4 Romania Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 34
4.2.5 Romania Exploration and Production Oil Sector, Market Share (%) based on Gross Equity Weighted Crude Oil Production 36
4.3 Romania Exploration and Production Sector, Gross Crude Oil Forecasts 37
4.3.1 Romania Exploration and Production Sector, Gross Crude Oil Forecasted Production 37
4.4 Romania Exploration and Production Sector, Crude Oil Asset Details 37
4.4.1 Romania Exploration and Production Sector, Active Crude Oil Asset Details 37
4.4.2 Romania Exploration and Production Sector, Planned Crude Oil Asset Details 38
4.5 Romania Exploration and Production Sector, Major Oil Discoveries 38
4.5.1 Romania Exploration and Production Sector, Number of Oil Discoveries 38
4.5.2 Romania Exploration and Production Sector, Oil Discovery Details 39
4.6 Romania Exploration and Production Sector, Recent Discoveries 40
4.6.1 Jun 07, 2010: Aurelian Oil & Gas Encounters Gas Bearing Reservior At Climauti-1 Well In Suceava Block, Romania 40
4.7 Romania Exploration and Production Sector, Drilling and Production Updates 40
4.7.1 Nov 10, 2010: Europa Oil & Gas Updates On Barchiz-1 Well In Romania 40
4.7.2 Nov 09, 2010: ZETA Petroleum Spuds Jimbolia-1ST Well In Romania 40
5 Romania Pipeline Sector 41
5.1 Romania  Pipeline Sector, Key Data 41
5.2 Romania Pipeline Sector, An Overview 41
5.3 Romania Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 41
5.4 Romania Pipeline Sector, Comparison of Key Petroleum Product Pipeline Companies 42
5.5 Romania Pipeline Sector, Crude Oil Pipelines 42
5.6 Romania Pipeline Sector, Petroleum Product Pipelines 43
6 Romania Refining Sector 44
6.1 Romania Refining Sector, Key Data 44
6.2 Romania Refining Sector, An Overview 44
6.2.1 Romania Refining Sector, Total Refining Capacity 44
6.3 Romania Refining Sector, Capacity- Wise Market Share By Company 45
6.4 Romania Refining Sector, Crude Distillation Unit Capacity 47
6.5 Romania Refining Sector, Coking Capacity 48
6.6 Romania Refining Sector, Fluid Catalytic Cracking Capacity 48
6.7 Romania Refining Sector, Hydrocracking Capacity 49
7 Romania Oil and Chemicals Storage Sector 50
7.1 Romania Oil and Chemicals Storage Sector, Key Data 50
7.2 Romania Oil and Chemicals Storage Sector, An Overview 50
7.2.1 Romania Oil and Chemicals Storage Sector, Total Storage Capacity 50
7.3 Romania Oil and Chemicals Storage Sector, Capacity- Wise Market Share By Company 51
7.4 Romania, Oil and Chemicals Storage Sector, Storage Capacity 53
8 Profile of OMV Petrom SA 54
8.1 OMV Petrom SA, Key Information 54
8.2 OMV Petrom SA, Company Overview 54
8.3 OMV Petrom SA,  Business Description 54
9 Profile of Exxon Mobil Corporation 56
9.1 Exxon Mobil Corporation, Key Information 56
9.2 Exxon Mobil Corporation, Company Overview 56
9.3 Exxon Mobil Corporation, Business Description 56
9.3.1 Business Overview 56
9.3.2 Chemical 57
9.3.3 Downstream 57
9.3.4 Upstream 58
9.4 Exxon Mobil Corporation, SWOT Analysis 59
9.4.1 Overview 59
9.4.2 Exxon Mobil Corporation, Strengths 60
9.4.3 Exxon Mobil Corporation, Weaknesses 62
9.4.4 Exxon Mobil Corporation, Opportunities 63
9.4.5 Exxon Mobil Corporation, Threats 64
10 Profile of LUKOIL Oil Company 66
10.1 LUKOIL Oil Company, Key Information 66
10.2 LUKOIL Oil Company, Company Overview 66
10.3 LUKOIL Oil Company, Business Description 66
10.3.1 Business Overview 66
10.3.2 Chemicals 67
10.3.3 Exploration and Production 67
10.3.4 Others 67
10.3.5 Power Generation 68
10.3.6 Refining, Marketing and Distribution 68
10.4 Lukoil Oil Company, SWOT Analysis 69
10.4.1 Overview 69
10.4.2 LUKOIL Oil Company Strengths 70
10.4.3 LUKOIL Oil Company Weaknesses 71
10.4.4 LUKOIL Oil Company Opportunities 72
10.4.5 LUKOIL Oil Company Threats 73
11 Financial Deals Landscape 75
11.1 Detailed Deal Summary 75
11.1.1 Private Equity 75
11.1.2 Equity Offerings 76
11.1.3 Partnerships 81
11.1.4 Asset Transactions 83
12 Recent Developments 92
12.1 License Awards 92
12.1.1 Apr 20, 2011: MOL Signs Concession Agreements With Romania For Three Exploration Blocks 92
12.1.2 Mar 10, 2011: Melrose Resources Announces Signing Of Romanian Concession Agreements 92
12.1.3 Feb 24, 2011: LUKOIL And Vanco Sign Agreements For Two Offshore Blocks In Romania 93
12.1.4 Jan 31, 2011: ADX Energy Signs Concession Agreement For Romanian Exploration Block 93
12.2 Strategy and Business Expansion 94
12.2.1 Dec 02, 2010: Petrom Inaugurates New Headquarters 94
12.3 Financial Announcements 95
12.3.1 Nov 11, 2010: Rompetrol Reports Consolidated Turnover of $953 million In Q3 2010 95
12.4 Other Significant Developments 95
12.4.1 May 02, 2011: Sterling Resources Files Notice Of Default Over License Assignments On Its Offshore Licenses In Romania 95
12.4.2 May 02, 2011: MOL Romania Names Kinga Agnes Daradics As New CEO 96
12.4.3 Mar 29, 2011: Europa Oil & Gas Provides Operations Update 96
12.4.4 Mar 25, 2011: Petrom To Permanently Close Arpechim Refinery In Romania 97
12.4.5 Mar 21, 2011: Oracle Energy Announces Update On Romanian Oil And Gas Projects 98
12.4.6 Mar 01, 2011: Europa Oil & Gas Provides Operations Update 99
12.4.7 Feb 28, 2011: Europa Oil & Gas Provides Operations Update 100
12.4.8 Feb 25, 2011: Melrose Resources Provides 2010 Year-End Production And Operations Update 101
12.4.9 Feb 09, 2011: HOCR Announces London Office Relocation To Romania 103
12.4.10 Feb 04, 2011: Aurelian Oil & Gas Announces Romanian Operations Update 104
13 Appendix 106
13.1 Abbreviations 106
13.2 Methodology 106
13.2.1 Coverage 106
13.2.2 Secondary Research 107
13.2.3 Primary Research 107
13.2.4 Expert Panel Validation 107
13.3 Contact Us 108
13.4 Disclaimer 108"

1.1  List of Tables
Table 1: Romania, Historical and Forecast Production and Consumption of Crude Oil, Thousand Barrels Per Day, 2000-2020 12
Table 2: Romania, Crude Oil Imports, Thousand Barrels Per Day, 2000-2020 14
Table 3: Romania, Historical Reserves of Crude Oil, Million Barrels, 2000-2010 16
Table 4: Eastern Europe, Investment Benchmarking, Overall Country Rankings, May 2011 19
Table 5: Eastern Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, May 2011 20
Table 6: Eastern Europe, Investment Benchmarking, Oil Sector Performance, May 2011 22
Table 7: Eastern Europe, Investment Benchmarking, Economic Performance, May 2011 26
Table 8: Eastern Europe, Country Standings, Economic Performance, May 2011 27
Table 9: Eastern Europe, Investment Benchmarking, Socio-Political Performance, May 2011 29
Table 10: Eastern Europe, Country Standings, Socio-Political Performance, May 2011 29
Table 11: Romania, Crude Oil Key Statistics, 2010 31
Table 12: Romania, Total Gross Crude Oil Production (MMBBLs), 2003-2010 32
Table 13: Romania, Gross Crude Oil Production by Type (MMBBLs), 2003-2010 33
Table 14: Romania, Gross Crude Oil Production by Assets (MMBBLs), 2003-2010 34
Table 15: Romania, Gross Equity Weighted Crude Oil Production by Company (MMBBLs), 2003-2010 34
Table 16: Romania, Market Share (%) of Companies based on Gross Equity Weighted Crude Oil Production, 2003-2010 36
Table 17: Romania, Gross Crude Oil Production Forecast by Assets (MMBBLs), 2011-2015 37
Table 18: Romania, Active Oil Field Assets Details 37
Table 19: Romania, Planned Oil Field Assets Details 38
Table 20: Romania, Number of Oil Discoveries, 2005-2010 38
Table 21: Romania, Oil Discovery Details, 2005-2010 39
Table 22: Romania, Pipeline Key Statistics, May 2011 41
Table 23: Romania, Crude Oil Pipeline Length by Company (Km), May 2011 41
Table 24: Romania, Petroleum Product Pipeline Length by Company (Km), May 2011 42
Table 25: Romania, Crude Oil Pipelines, May 2011 42
Table 26: Romania, Crude Oil Pipelines, May 2011 (Contd.1) 43
Table 27: Romania, Petroleum Product Pipelines, May 2011 43
Table 28: Romania, Refinery Key Statistics, May 2011 44
Table 29: Romania, Total Refining Capacity (MMTPA), 2000- 2015 44
Table 30: Romania, Refining Capacity (MMTPA) By Company, 2000-2015 45
Table 31: Romania, Crude Distillation Unit Capacity (MMTPA), 2000-2015 47
Table 32: Romania, Coking Unit Capacity (MMTPA), 2000-2015 48
Table 33: Romania, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2015 48
Table 34: Romania, Hydrocracking Unit Capacity (MMTPA), 2000-2015 49
Table 35: Romania, Oil and Chemicals Storage Key Statistics, May 2011 50
Table 36: Romania, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2015 50
Table 37: Romania, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2000-2015 51
Table 38: Romania, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2015 53
Table 39: OMV Petrom SA, Key Facts 54
Table 40: Exxon Mobil Corporation, Key Facts 56
Table 41: Exxon Mobil Corporation, SWOT Analysis 60
Table 42: LUKOIL Oil Company, Key Facts 66
Table 43: LUKOIL Oil Company, SWOT Analysis 70
Table 44: Lime Rock Partners To Invest In $25 Million In Expert Petroleum 75
Table 45: Petrom Plans To Raise $740 Million 76
Table 46: Aurelian Oil & Gas Completes Private Placement Of Shares For $48.96 Million 77
Table 47: Petrom Plans For Public Offering Of $1400 Million 79
Table 48: TransAtlantic Petroleum Completes Common Stock Offering For $105.29 Million 79
Table 49: Cooper Energy Forms Joint Venture With Zeta Petroleum 81
Table 50: Romgaz Plans To Form A Joint Venture With Gazprom 82
Table 51: Oltchim Plans To Acquire Arpechim Refinery From OMV Petrom 83
Table 52: Regal Petroleum Sells Barlad Concession In Romania 84
Table 53: Caspian Oil And Sibinga Petroleum Enter Farm-In Agreement With AuDAX Resources 85
Table 54: Oracle Energy And Carpathian Energy Enter Into Farm-Out Agreement With Amromco Energy 86
Table 55: Oltchim Acquires Petrochemical Activity From Petrom 87
Table 56: Aurelian To Acquire 19% Interest In Lilieci Discovery Area Bacau Concession 88
Table 57: Zeta Petroleum Sells Its 87.5% Interest In Padureni License To Expert Petroleum 89
Table 58: Toreador To Sell Romanian Assets To Lotus Petroleum 90
Table 59: Toreador Resources To Sell Viperesti Exploration Block To Amromco Energy 91"

1.2 List of Figures
Figure 1: Romania, Energy Consumption Split by Fuel Type (%), 2010 10
Figure 2: Romania, Crude Oil Production And Consumption, Thousand Barrels Per Day, 2000-2020 13
Figure 3: Romania, Crude Oil Imports, Thousand Barrels Per Day, 2000-2020 15
Figure 4: Romania, Crude Oil Reserves, Million Barrels, 2000-2010 17
Figure 5: Eastern Europe, Country Standings, Upstream Fiscal Attractiveness, May 2011 21
Figure 6: Eastern Europe, Country Standings, Oil Sector Performance, by Reserves-Exploration & Production, May 2011 23
Figure 7: Eastern Europe, Country Standings, Oil Sector Performance, by Production-Consumption & Refining, May 2011 24
Figure 8: Eastern Europe, Country Standings, Number Of Exploration Blocks Awarded, May 2011 25
Figure 9: Eastern Europe, Country Standings, Economic Performance, May 2011 27
Figure 10: Eastern Europe, Country Standings, Socio-Political Performance, May 2011 30
Figure 11: Romania, Crude Oil Assets Map, May 2011 31
Figure 12: Romania, Total Gross Crude Oil Production (MMBBLs), 2003-2010 32
Figure 13: Romania, Gross Crude Oil Production by Type (MMBBLs), 2003-2010 33
Figure 14: Romania, Gross Equity Weighted Crude Oil Production (MMBBLs) by Company, 2003-2010 35
Figure 15: Romania, Market Share (%) of Companies based on Gross Equity Weighted Crude Oil Production, 2010 36
Figure 16: Romania, Number of Oil Discoveries, 2005-2010 39
Figure 17: Romania, Total Refining Capacity (MMTPA), 2000- 2015 45
Figure 18: Romania, Refining Market Share (%) By Company, 2010 46
Figure 19: Romania, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2015 51
Figure 20: Romania, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2000-2015 52