News 20111228 export

1. News December 28th, 2011
Romania can afford to export crude oil and
electricity though penury is both resources
Although Romanian companies were able to export power and oil
tens of millions of euro, Romania has an urgent need of both sources.
Romanian companies exported 54,000 tons of crude oil in the first 8 months of 2011, worth nearly
€30 million, according to data from Statistics. Romania is a net oil-importing country which is in
fact, the most purchased product from abroad. By September, imports were about €2.5 billion
equivalent to 2.4 million tons. The largest importers are LukOil and Rompetrol which refine crude
oil from Kazakhstan and Russia in Petrotel and Petromidia refineries.
Regarding electricity, Romania is a net exporter with €106 million selling 2.2 GWh in the first 8
months of the year. Imports were only €19 million of appropriate 460 MWh. It is assumed that
much of sold current belongs to the companies Hidroelectrica and Nuclearelectrica that produce the
cheapest electricity because thermal energy is expensive being prohibitive for export. Our current
exports go to countries such as the Serbia, Bulgaria, Hungary or Moldova. Imports are from Serbia
and Moldova.
Since July, Romania was affected by a severe drought that has drained lakes of Hidroelectrica, a
company that was unable to honor its all contracts, announcing Force majeure. Company
management had access to weather forecasts indicating an extremely dry second part of the year,
but preferred to maximize factory work to maximize profits within Hidroelectrica up when it was
not enough water available.
Once Hidroelectrica announced Force majeure, THP plants in the country began to produce at full
capacity to supply electricity deficit in the market. Being thermal current much more expensive
than hydro current, is expected to increase electricity bills in the first half of 2012.
Eng. Paul Keisch Page 1