The price of petrol and diesel is of interest to all drivers in Romania. And OMV Petrom now comes with its own estimates, revised and adapted to the current economic situation.
The price of petrol and diesel in Romania is determined based on the Brent oil price in London. It must be followed and if the price rises there, the effects will soon be seen in Romania. OMV Petrom Group provided its own estimates in this regard.
Thus, a crude oil price of $ 50 per barrel is expected for 2021. In Upstream, the long-term estimate of the Brent crude oil price is now lowered to $ 60 / bbl compared to $ 75 / bbl previously used.
Announcement for drivers in Romania: what happens to petrol and diesel prices
OMV Petrom estimates that the effects of the COVID-1
- Oil price estimates for 2022 and 2023 have been reduced to $ 60 / bbl from $ 70 / bbl and $ 75 / bbl respectively.
- for the period 2024 – 2029, a Brent crude oil price is estimated at $ 65 / bbl (previously $ 75 / bbl), which is expected to gradually decrease to $ 60 / bbl by 2035.
As of 2035, Petrom is considering a Brent crude oil price of $ 60 per barrel (previously $ 75 per barrel). All estimates after 2025 are in real terms, at the 2025 level.
“We expect that the update of crude oil price estimates will lead to net adjustments of non-monetary impairments of approximately 800 million lei after tax, which includes both impairment adjustments for intangible exploration assets and net adjustments for tangible assets.” said company representatives.
OMV Petrom is the largest energy company in Southeast Europe with an annual production of crude oil and gas at Group level of 55.4 million barrels annually. The Group has a refining capacity of 4.5 million tonnes annually and operates a highly efficient power plant of 860 MW.