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Romanian refineries have crude supplies, not hurt by Russian imports ban-Energy Min

Thursday, 22 September 2022 | 00:00

Romanian refineries, including one owned by Russia’s Lukoil have found alternative fuel supplies from December when a ban on Russian imports takes hold, Energy Minister Virgil Popescu said on Wednesday.

The European Union has been reducing imports of Russian oil products since March and bloc leaders agreed an embargo on Russian crude oil imports that will take full effect by end-2022, with some exemptions.

“We held talks with all refinery owners at the ministry yesterday and absolutely all of them, including Lukoil told us thy have found alternative oil sources from Dec. 5,” Popescu told reporters on the sidelines of an international gas conference. He did not elaborate on the alternative sources.

The Petromidia refinery, owned by Rompetrol Rafinare, majority-controlled by KMG International (KMGI) uses Kazak crude.

OMV Petrom, majority-controlled by Austria’s OMV stopped importing Russian products in March in agreement with EU goals and was looking to diversify energy import sources to secure its supply chain, including through booking LNG capacity.

The company produces around 75%-80% of the crude it processes at its Petrobrazi refinery and of the natural gas it sells and uses to produce electricity.

Lukoil’s Romanian refinery has a small market share.
Source: Reuters (Reporting by Luiza Ilie; Editing by Louise Heavens)

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