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P r e s s R e l e a s e January 24, 2011

Oil Refineries in 2010 SeeNews releases a new report entitled ‘Oil Refineries in Romania’

SeeNews (www.seenews.com), a business information provider for , has published the report ‘Oil Refineries in Romania 2010’. It concentrates on the current situation in the refining sector in Romania. In 2009 the companies from the oil refining sector produced slightly over 8.0 million tonnes of petrol and diesel together. The report also presents the most important activities of the domestic oil companies. Furthermore, it contains a background and historical data for the sector, as well as information about the supporting infrastructure. In order to put the Romanian refineries in a global context the report comprises of information about the global perspectives and forecasts for the refining sector. To evaluate the sector better, the overview ends with a SWOT analysis.

Romania's crude oil refining sector is the largest in terms of operating capacity in Southeastern Europe. The country’s refining capacity exceeds its domestic demand for products, with the surplus going for export. In 2009, local companies processed 12.3 million tonnes of crude oil. Larger oil companies also have plans to improve their profit and refining margins through ambitious investment programmes. Unable to compete with the refineries of giants as Petrom, and LUKoil, the smaller ones are either heading to a shut- down or to a shift to the petrochemicals sector, as was the example with the Arpechim refinery's petrochemical assets.

Oil Refineries in Romania 2010 content: Section 1. Overview 1.1. Overview of the Romanian Economy Table 1: Main Macroeconomic Indicators Q2 2010-Q4 2009 Table 2: Main Macroeconomic Indicators 2009-2005 1.2. History, Geography & Infrastructure 1.2.1. Historical Background - Privatisation 1.2.2. Geography - Major Cities in the Domestic Oil Sector 1.2.3. Infrastructure - Port Oil Terminals Map 1: Port of Constanta Map 2: Port of Midia - Oil Pipelines and Pipeline Operators Map 3: Oil Pipelines Map 4: Domestic Pipeline Subsystem (DPLS) Map 5: Import Pipeline Subsystem (IPLS) Map 6: Arpechim-Petrobrazi Pipeline Map 7: PEOP Route - Transportation and Warehousing Table 3: Oil Terminal Capacity 1.3. Major Developments 1.3.1. Companies Section 2. Oil Refineries in Romania Table 4: Major oil refineries in Romania Table 5: Smaller refineries in Romania

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2.1. Short Profiles of the Leading Five Refineries in Romania 2.1.1. Rompetrol Rafineries Table 6: Rompetrol Rafinare's Financial Performance in 2009 and 2008 2.1.2. Petrobrazi and Arpechim Refineries 2.1.3. Rafo Refinery Table 7: Rafo's Financial Performance in 2009 and 2008 2.1.4. Petrotel Refinery Table 8: Petrotel's Financial Performance in 2008 Section 3. Employment and Salary Table 9: Number of Employees in the Sector Table 10: Gross Average Salary in the Sector Table 11: Major Refineries Workforce in 2009 Section 4. Supply 4.1. Structure of the Romanian Oil Market 4.2. Refining of Crude Oil Table 12: Crude Oil Input to Refineries (million tonnes) Table 13: Deliveries of Petroleum Products (million tonnes) 4.3. Petroleum Products Table 14: Structure of Supply of Petroleum Products (million tonnes) 4.4. Petroleum Production of Romania's Largest Refineries - Petrom's Refineries Table 15: Production of Petrobrazi and Arpechim Refineries by Type (kilotonnes) - Rompetrol's Refineries Table 16: Production of Rompetrol Refineries by Type (million tonnes) - Petrotel Refinery Table 17: Production of Petrotel Refinery by Type (million tonnes) - Rafo Refinery Table 18: Production of Rafo Refinery by Type (million tonnes) Section 5. Demand Table 19: Crude Oil Consumption in Romania 2009-2005 Table 20: Deliveries of Petroleum Products on Romanian Market July 2010-2007 Table 21: Number of Registered Motor Vehicles 2009-2005 Table 22: Total Output of Petrol and Diesel (million tonnes)* 2009-2007 5.1. Fuel Prices Table 23: Petrom's Fuel Prices as of November 2010 Table 24: Rompetrol's Fuel Prices as of November 2010 Table 25: LUKoil Romania's Fuel Prices as of November 2010 5.2. Main Clients Section 6. Global Perspective Graph 1: World Liquids Consumption by Region and Country Group, 2006 and 2030 Graph 2: Oil Production by Region in 2009 (million barrels a day) Section 7. Investments 7.1. Investments in Refineries 7.1.1. Petrom SA 7.1.2. Rompetrol SA 7.1.3. LUKoil-Petrotel SA 7.1.4. Other Section 8. Associated Industries & Factors 8.1. Upstream Oil Industry - Exploration Map 8: Exploration Map in Romania in 2008 Map 9: New Concessions Offered in 2010 - Production Map 10: Concession Map of Production Blocks in Romania Graph 3: Production and New Discoveries of Crude Oil in Romania 1960-2010 8.2. Midstream Oil Industry 8.3. Downstream Oil Industry

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- Distribution and Marketing - Filling stations Map 11: Map of Rompetrol's Filling Stations in Romania - Petrochemicals Section 9: Forecasts Table 26: Forecast on Romanian Oil Sector by 2030 (ktoe) Graph 4: Forecast on Petroleum Products Net Imports 2015 Graph 5: Forecast on SEE Oil Demand by Product 1997-2014 Graph 6: Forecast on Refineries Capacity Utilisation Rate by Region Q1 2006- Q1 2014 Section 10: SWOT Analysis

List of Related Corporate and Industry Profiles SEE TOP 100 text http://top100.seenews.com/industries/oil-and-gas Energy Projects in Southeastern Europe Gas Sector (Albania) Gas Sector (Kosovo) Gas Sector (Macedonia) Gas Sector () Distribution of Gas (Romania) Distribution of Gas (Serbia) Distribution of Electricity (Serbia) Corporate Profiles Arpechim SA (Romania) - Company Profile A.R.M.O. Sh.A. (Albania) - Company Profile Albpetrol Sh.a. (Albania) - Company Profile Brod a.d. (former Rafinerija Nafte a.d.) (Bosnia and Herzegovina) - Company Profile Butan Plin d.d (Slovenia) - Company Profile Crna Reka DOOEL (Macedonia) - Company Profile Detubari Sonde SA (Romania) - Company Profile Energopetrol d.d. (Bosnia and Herzegovina) - Company Profile Euro Gas DOO (Serbia) - Company Profile Foraj Sonde Ploiesti SA (Romania) - Company Profile INA d.d. (Croatia) - Company Profile Iztochna Gazova Kompania AD () - Company Profile Jugopetrol AD Kotor (Montenegro) - Company Profile Lukoil - Beopetrol A.D. (Serbia) - Company Profile Lukoil Neftochim Burgas AD (Bulgaria) - Company Profile Lukoil Romania SRL (Romania) - Company Profile Lukoil-Bulgaria EOOD (Bulgaria) - Company Profile Makoil DOO (Macedonia) - Company Profile Modibit d.o.o. (Croatia) - Company Profile Mol Ro Comert SRL (Romania) - Company Profile MOL Romania Petroleum Products SRL (Romania) - Company Profile MOL Slovenija d.o.o. (Slovenia) - Company Profile Nafta Lendava d.o.o. (Slovenia) - Company Profile Naftna Industrija Srbije (NIS) AD (Serbia) - Company Profile Okta AD (Macedonia) - Company Profile OMV Bulgaria OOD (Bulgaria) - Company Profile OMV Slovenija d.o.o. (Slovenia) - Company Profile OMV Srbija DOO (Serbia) - Company Profile Petrol AD (Bulgaria) - Company Profile Petrol BH Oil Company DOO (Bosnia and Herzegovina) - Company Profile Petrol d.d. (Slovenia) - Company Profile Petrolexportimport SA (Romania) - Company Profile

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Petrolsub SA – in liquidation (Romania) - Company Profile Petrom SA (Romania) - Company Profile Petrom- SA (Moldova) - Company Profile Petromservice SA (Romania) - Company Profile Petrotel - Lukoil SA (Romania) - Company Profile Prouchvane i Dobiv na Neft i Gaz AD (Bulgaria) - Company Profile Rafinaria Astra Romana SA (Romania) - Company Profile Rafinaria Steaua Romana SA (Romania) - Company Profile Romfor SA (Romania) - Company Profile Rompetrol Downstream SA (Romania) - Company Profile Rompetrol Rafinare SA (Romania) - Company Profile Rompetrol Well Services SA (Romania) - Company Profile Servcom Sh.A. (Albania) - Company Profile Shell Bulgaria EАD (Bulgaria) - Company Profile Societatea Nationala de Gaze Naturale SA (Romania) - Company Profile Tirex Petrol SA (Moldova) - Company Profile

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SeeNews SeeNews (www.seenews.com) SeeNews (www.seenews.com) is a business and financial news provider covering the fast-growing companies and economies of Southeast Europe. SeeNews delivers decision-relevant business and investment news and intelligence for the investment banking, financial professionals, corporate executives and investors in emerging markets. SeeNews combines the premium products real-time news and analysis by SeeNews –The Corporate Wire (www.wire.seenews.com) and investment research, database of company and industry reports by SeeNews – Research and Profiles (www.seenews.com/profiles). SeeNews is the publisher of the only common annual ranking of the top companies, banks and insurers in the region SEE TOP 100 (www.top100.seenews.com). SeeNews is published by AII Data Processing Ltd.