Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
Mazarine looks ahead following management buyout
The independent is now seeking to expand its operations
India ramps up refinery expansions
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
Indian refiners set for big expansion
The world’s third-largest importer of crude shows no sign of easing up on downstream momentum in recent years
Modular refineries offer Nigeria solutions
Official support for small refineries may improve security and help the country meet both its OPEC crude production quotas and domestic product requirements
Nigeria adapts to end of fuel subsidies
The withdrawal of discounts has already severely impacted domestic product demand and bolstered long-stalled refinery refurbishment projects
Refining Report: American refiners target biofuels
Biofuels are leading the way in the US as the region looks to the future with renewable fuels
Refining Report: Major projects under way in Middle East
Countries in the region are expanding plants and building grassroots facilities, with countries in Africa keen to cut their fuel import bills
Refining Report: EU’s net-zero goals boost biofuels
Russia’s invasion of Ukraine has upended trade flows in the region, while Europe’s net-zero commitments have boosted biofuels investment
Refining Report: Asia sees major capacity buildout
The region is the global leader in active refining projects, with most based in India and China
A Petrom fuel tank at the Petrobrazi refinery
Romania Refining OMV
Peter Ramsay
8 February 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Petrom refining hit by utility costs hike

Romanian refiner posts improved economics, but ancillary costs drag

OMV Petrom, operator of Romania’s 4.4mn t/yr (88,400bl/d) Petrobrazi refinery, saw the operating result for its downstream oil business double year-on-year in the final quarter of 2021, on the back of a more favourable refining margins environment and strong demand. But, like several European refiners, the increasing price for gas and power used in its refinery, as well as the rising cost of carbon, weighed on its performance. The firm’s downstream unit made RON550mn ($126.5mn) in Q4, up by 100pc from the same quarter last year. For 2021 as whole, the unit’s operating profit was RON2bn compared with RON1.45bn in 2020. Petrobrazi’s utilisation rate has been above 90c for the past three quarte

Also in this section
Petroleum Economist: July/August 2025
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
Middle East Gas Conference 2025
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
New Zealand backs gas, but results take time
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
Gas pricing finds a new norm
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search