Fuel 
Oil Companies Financial Reports To Be Verified By Romanian Tax Authority
The Government's report analyzing the producers and distributors of gas and diesel shows that almost all the local oil companies reported significant losses for 2010 and their real profits were not reflected accordingly, although fuel pump prices increased by around 20% in Romania last year. As a result of this report, Romanian tax authorities will verify whether the financial reports of local oil companies include unjustified expenses aiming to reduce their real profit and if their declared fiscal losses are grounded. "We will also verify whether the profits have been transferred abroad," Government sources said on Tuesday. The verifications will begin at the request of Prime Minister Emil Boc. The main companies selling fuel in Romania are OMV Petrom (SNP.RO), Rompetrol, LukOil, MOL and OMV. citeste mai mult
Rompetrol: Romanian Fuel Pump Prices Will Go Up By 5%-7% In 2010
The fuel pump prices on romanian market are likely to grow next year by 5% to 7%, to an average of RON4.2 (EUR1=RON4.2778) per liter, on earmarked excise duty increases and potential higher crude oil prices, Rompetrol Downstream, the retail arm of Romania Rompetrol, said today. They estimated that average crude oil prices might be at $80 per barrel in 2010. Translated by: Professional Translation "The external factors, which cannot be controlled and which have a significant influence on pump prices, are the exchange rate, excise duties and crude oil prices," said Iulian Antonache, Commercial Manager at Rompetrol Downstream. Antonache said 45% of the fuel pump prices are taxes and excise duties and the latter are expected to increase by 18% in 2010. "As of January 1, 2010 the gasoline excise duty increases to EUR452/ton from EUR436/ton, while the diesel duty rises to EUR347/ton from EUR336/ton," he added. citeste mai mult
Romania pays RON4.3B to ensure winter fuel stocks
The Romanian Economy Ministry announced that it invested 4.3 billion lei (EUR1=RON4.2046) to ensure the fuel stocks for the electricity and heating power producers during the winter period. "All the plants that ensure a good functioning of the energy system have the necessary fuel stocks, and SNLO (state-owned mining company - e.n.) has additional large brown coal reserves," the ministry said in a statement. Between October 1 and March 30 2010, 17.400 tons of brown coal, 1.8 million tons of pitcoal, 2.5 billion cubic meters of gas and 360,000 tons of fuel oil will be used to produce around 30.9 million MWh of electric power and a thermal power output of 16.1 million giga-calories. citeste mai mult
Romanian oil companies rose the price of fuel by 40% - Romania still among the cheapest
In half a year, the price of gasoline on the Romanian market rose by almost 40%, and by 15% for diesel. Oil companies blame the international oil prices and the undervaluation of the Romanian currency. Still, even with the drastic increase, according to the Oil Buletin, gas prices in Romania are still among the cheapest in the European Union with a price 0f 0.87 Euro/liter for gasoline and 0.84 Euro/liter for diesel. The closest values to Romania’s prices are recorded in Cyprus (0.93 Euro/liter) and Estonia (0.98 Euro/liter) for gasoline, and Poland (0.83 Euro/liter), Cyprus (0.84 Euro/liter), Bulgaria (0.87 Euro/liter) for diesel. After a few price increases in June by Petrom, the company dropped the prices by 6 bani (0.14 Euro) in July as a result of tax reduction and the mandatory introduction of biofuel mixtures in gasoline. Translated by: Tradu.org citeste mai mult
Record fuel sales for oil companies
The drop in world demand for crude oil caused by the financial crisis generated a sudden fall of international quotations for oil on the international market. If during the summer we were referring to a price of 140 dollars per barrel, now the quotation has dropped under 60 dollars. The oil companies from Romania have adopted crisis measures and are on the look-out, although they say that aren’t affected yet. However, they have record quantities of commercialized fuels. The oil companies that operate in Romania sustain that the effects of the world financial crisis haven’t affected yet their business but they say that they have elaborated strategies for counteracting the negative influences. For the moment, they have announced record sales to fuel even if since July the prices at pump have decreased. For example the Petrom officials, have stated that in October they have sold almost 200 million liters, an absolute record, with 30% more against the similar period... citeste mai mult
Diesel car sales dropped over 13% in the first nine months of 2008
Keeping up the price for diesel above the one of the gasoline directed that the sales of cars on diesel to fall dramatically in the first nine months of the current year. If at the end of last year, the weight of the diesel automobiles represented almost half of the total sales, after the first nine months it has dropped under 40 percentage. The main cause is represented by the fact that the price for diesel is bigger than the one for gasoline, and the initial investment in a diesel car, starting by 1.000 euro, is very difficult to be recovered. The clincher in purchasing a car with diesel engine is, beyond fiability, the engine’s power or the life time, the fuel’s price. Given the fact that the diesel is more expensive than the gasoline, for the same distance covered the costs for those two types of motorization are similar, even if at the chapter consumption, the diesel type is more advantageous. In free fall In December 2007, 48,1% of the total of... citeste mai mult
