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

24.03.2010, 20:04 8

The petroleum products market has not doubled from 2004 untilnow, independent petrol stations still survive, and the dominationof "green" cars is yet to be achieved. Many of the estimates madeby players in the petroleum sector back in 2004, which wereincluded in the "Romania 2010" yearbook were contradicted by 2010realities. After the past few years' experience, and especiallyafter feeling the pinch of the crisis, players in the petroleumsector are now more reserved, preferring to talk about trendsrather 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-drivencars could become a common presence here as well, given the rise ofthis phenomenon," Dinu Patriciu, then chairman of the Rompetrolgroup, said in 2004. In the meantime, Patriciu has sold his entirebusiness to Kazakh state-held KazMunaiGaz, a transaction that madehim the richest person in Romania, with his fortune now amountingto 2.2 billion dollars, according to Forbes.

The progression of the petroleum market, however, contradictedPatriciu.

5.9 million tonnes of fuel were sold on the market in 2009, witharound 8.7 million tonnes of petroleum products being deliveredonto the overall market. The petroleum products market has risen by9-10% since 2004.

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