MOSCOW, 21 Sep — PRIME. All oil refineries in Romania after the embargo on Russian oil comes into force will be able to switch to alternative sources of energy supplies, said the head of the Ministry of Energy of the country, Virgil Popescu.
“The ministry held discussions with all companies that own oil refineries in Romania, including Lukoil, about refining crude oil after December 5 (when the embargo on Russian oil comes into force – ed.). They told us that they had found alternative sources crude oil after December 5,” the minister said.
The largest refinery in Romania is Petrotel Lukoil, with a capacity of 2.5 million tons of oil per year, which has so far processed Russian oil delivered by the Black Sea. Petromidia and Petrobrazi factories also operate in the country.
Meanwhile, EU and US embargoes on Russian oil purchases have driven prices up sharply, allowing Russia to divert large volumes of oil to other markets, most notably India and China, and even raise revenues, albeit by selling smaller volumes of oil at a discount.