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The State decides to increase the transportation tariffs for crude oil. Petrom, the main company affected.

Conpet had slightly increased the transportation tariff for oil via pipelines, but, in the context of low oil prices, the cost for transportation has a great impact in the balance sheet of oil companies. The National Agency for Mineral Resources approved the increase in tariffs charged by the national oil transmission company Conpet for the national oil transportation.  According to an order published in the Official Gazette, the new price is RON 79.75/ton.

 The increase is not great compared to the current tariff, of RON 78.64/ton of oil transported, established in 2013, of approximately 1%, but comes in a difficult moment for oil companies, given the low oil quotation.

The main client of Conpet is Petrom (the only oil producer that owns the refinery Petrobrazi), followed by Lukoil, the Russian company that owns the Petrotel refinery. The Russians use Conpet's pipelines and rail wagons to deliver imported oil to the refinery in Ploiesti, and Petrom to transport oil nationally extracted to Petrobrazi refinery, also in Ploiesti.

 According to projections made by ECONOMICA.NET, if in 2014 the cost of transportation represented to Petrom 3% of the price of oil produced, in 2016, especially due to oil price drop, the cost of transportation represents 7.5% of the price. Now, the international oil quotation is approximately USD 32/barrel, from over USD 100 in mid-2014.  Conpet recorded a net profit of RON 52mln, up with 8.4% than in the first nine months of 2014. The increase was largely due to increased revenues from the transmission of imported oil, with 18%, which offset the decrease in revenues from the transmission of domestic oil by 2%.

Source: Economica.net.

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