What was expected in 2004 on petroleum market and what has been achieved

The petroleum products market has not doubled from 2004 until now, independent petrol stations still survive, and the domination of “green” cars is yet to be achieved. Many of the estimates made by players in the petroleum sector back in 2004, which were included in the “Romania 2010” yearbook were contradicted by 2010 realities. After the past few years’ experience, and especially after feeling the pinch of the crisis, players in the petroleum sector are now more reserved, preferring to talk about trends rather than figures in the long term.

“I think the petroleum market will double in Romania in 2010, and salaries will then amount to 400-500 euros. Hydrogen-driven cars could become a common presence here as well, given the rise of this phenomenon,” Dinu Patriciu, then chairman of the Rompetrol group, said in 2004. In the meantime, Patriciu has sold his entire business to Kazakh state-held KazMunaiGaz, a transaction that made him the richest person in Romania, with his fortune now amounting to 2.2 billion dollars, according to Forbes.

The progression of the petroleum market, however, contradicted Patriciu.

5.9 million tonnes of fuel were sold on the market in 2009, with around 8.7 million tonnes of petroleum products being delivered onto the overall market. The petroleum products market has risen by 9-10% since 2004.