Romania: OMV Petrom decrease in fuel demand in Q2 2020

4. May 2020. / SEE Energy News

OMV Petrom company estimates a 45 % drop in fuel demand in the second quarter of this year and a 20 % decline on an annual level, and regarding natural gas consumption, this reduction could be between 10 and 20 %, Christina Verchere CEO of the largest Romanian oil and gas company OMV Petrom said.

Verchere said that the company has reduced the refinery utilization rate to a little over 80 %, maybe it will reach 85 % for the entire year. All this allows it to process Romanian crude oil from our its production. It is planned to close the Petrobrazi refinery in the second half of the year. OMV Petrom is confident that it could reach a good balance between supply and demand on the fuel side, but, it also depends on the storage capacity of crude oil and petroleum products, and also on the company’s ability to take products to other markets, if necessary. On the gas side, a 10-20 % decrease in demand is estimated.

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