Romania Vulnerable to New Fuel Crisis as Kazakh Oil Exports Halt

The suspension of crude oil exports from Kazakhstan, following drone attacks on Black Sea infrastructure, has reignited fears of a new shockwave in the European energy market. Romania, which depends on Kazakh crude for over 60% of its imports, appears significantly at risk of supply disruption.

However, Eugenia Gușilov, founder of the Romania Energy Center (ROEC), explains that Romania's primary concern isn't a lack of crude oil but rather a growing deficit of diesel fuel in the European market. This shortage could drive up fuel prices even if crude oil supplies remain stable.

Kazakhstan halted oil pumping through the Caspian Pipeline Consortium (CPC) to Novorossiisk and will no longer deliver via the Black Sea after attacks on tankers. Companies are hesitant to send tankers to the CPC terminal. If the pipeline suspension continues, Kazakhstan may be forced to reduce its oil production, according to sources. Approximately 80% of the country's oil exports pass through the CPC system.

Romania's annual crude oil consumption is around 10 million tons, but domestic production covers only a quarter of its needs, meaning about 75% is imported. The main sources are Kazakhstan, Azerbaijan, and Iraq. Kazakh imported oil is vital for Romania, with over 80% of its imported crude originating from Kazakhstan. This oil is crucial for the Petromidia and Petrobrazi refineries.

The Ministry of Energy is exploring alternative crude oil supply options due to the Black Sea transport disruptions affecting oil and petroleum product deliveries to Romania. Meanwhile, gas stations are already increasing fuel prices. The Ministry stated it is monitoring the situation and evaluating necessary measures to ensure the continuity of supply to the domestic market. Rompetrol, a major beneficiary of Kazakh oil in Romania, has indicated it is prepared to compensate for any potential deficits.

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În acest context, Ministerul Energiei analizează variante alternative de aprovizionare cu țiței, în contextul perturbărilor din Marea Neagră care afectează transporturile de petrol și produse petroliere către România.