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• The Romanian public company succeeded in keeping its contracts with "Lukoil", the most important customer of "Oil Terminal"
Officials of state owned company Oil Terminal- the gateway for the entry of crude in Romania - recently negotiated in London, with giant Glencore the storage of a large amount of hydrocarbons, crude oil and diesel oil, sources close to the negotiations say. Moreover after lengthy negotiations, the management of Oil Terminal, succeeded in keeping its largest contract, with Lukoil, which provides 20% of the terminal"s capacity (Petrol ties up 17% of the terminal"s capacity).
Last month"s negotiations between Oil Terminal and Glencore were intended to offset the possible ending of the partnership between Lukoil and Oil Terminal.
Oil Terminal has a storage capacity of 1.7 million tons, and its largest containers can store roughly 50,000 tons of fuel.
Oil Terminal"s average rate is 3.5 Euros/cubic meter plus VAT. Rompetrol has set up its own storage capacities at the Petromidia terminal, but it still trades with Oil Terminal, through Vector Energy, its Swiss subsidiary.
In turn, because Rafo has not yet resumed its operations, for now it does not figure among the customers of Oil Terminal, who are still working with 12 operators, so far.
On Tuesday, the management of Oil Terminal posted reports of its new contracts on the Bucharest Stock Exchange (read more on www.bursa.ro).
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